Komatsu (TYO:6301) Sales in China Surged Strongly
Tokyo, Oct 3, 2009 AEST (ABN Newswire) - Komatsu Ltd (TYO:6301), the Japanese earthmoving equipment giant, outperformed the industry in Japan and delivered a strong unit sales of hydraulic excavators jumped 75 percent in China in September.
Komatsu, the world's second biggest construction machine maker after US-based Caterpillar (NYSE:CAT), said its sales in China surged about 60 per cent in August.
Japanese exports of construction machinery to China declined 41 percent in terms of value in August from a year earlier, compared with a 30 percent fall in July.
Worldwide machinery sales in August were 48 per cent lower than they were in the same period 2008. Much of the declines came from the North America and Europe markets. Komatsu's rival, Caterpillar, has not seen sales growth since September 2008.
Komatsu's rise is largely helped by the Chinese government's massive stimulus package, which is boosting infrastructure projects in the country. Komatsu also said it would start producing hybrid excavators in China this month, with an estimated output of 2,000-2,500 units in the financial year to March 2011.
Contact
Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
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