XCMG Signs Purchasing Orders Totaling USD 100 Million at CIIE 2019

Date:2019-11-14 Source:prnewswire

Leading Chinese construction manufacturer XCMG (000425.SZ) walks away from the second China International Import Expo (CIIE), with purchasing orders of USD 100 million.

At CIIE 2019, XCMG signed several large purchasing deals and strategic cooperation agreements with top international suppliers including General Electric, Daimler AG and Kawasaki Heavy Industries.

"XCMG looks forward to establishing new strategic partnerships and relationships with top equipment manufacturing companies, research institutions and companies at home and abroad. We strive to develop a global value chain to achieve win-win for all," said Lu Chuan, the President of Xuzhou Heavy Machinery Co Ltd.

Global Purchasing Strategy Speeds up International Industrial Expansion

Standing on the firm bases in China and Europe as a top 700 Chinese and international supplier, XCMG has mapped out a world-class supply chain and network to support its global network of manufacturing bases.

XCMG imports high-end core components from 20 countries and regions including Japan, U.S. South Korea and European countries connected by an efficient strategic supply chain alliance for streamlined purchasing. An "Intelligent+" supply chain information system has been created to match the company's intelligent manufacturing development and achieve the convergence of purchasing, logistics, data and capital flow.

The new XCMG supply chain management model allows different manufacturing bases to follow and share global pricing trends and adjust sourcing plans accordingly, solving issues of response efficiency and improving the ability to respond to market risks.

"XCMG is en route to building a world-class construction machinery base through by focusing on the upgrading and optimization of manufacturing equipment, core components and new fields of manufacturing; the global purchasing strategy will support XCMG to achieve greater success and to extend the company's competitive advantage," Lu said.