HD Construction Machinery Secures First Major Orders After Integration...Simultaneous Supply of Hyundai and Develon Brands

Targeting Ethiopia, Vietnam, and Kyrgyzstan
2024 Sales Target Set at 8 Trillion Won

HD Construction Machinery, the integrated corporation of HD Hyundai's construction equipment business, has secured several large-scale orders for the first time since its launch. The company continues to supply medium and large equipment, focusing on emerging markets such as Africa, Southeast Asia, and Central Asia.

On January 14, HD Construction Machinery announced that it had recently signed a contract to supply a total of 120 large excavators to mining development companies in Ethiopia. The contract includes 70 units of Develon 36-ton class excavators and 50 units of Hyundai 34-ton class excavators, which will be deployed at local gold mining sites.

52-ton class Hyundai excavator (left) and 36-ton class Develon excavator. HD Construction Machinery

Ethiopia is one of HD Construction Machinery's key markets. As of last year, the company held about an 80% market share in the excavator market. Sales have increased, especially for medium and large excavators of 30 tons and above, and over the past three years, annual sales have more than doubled each year. The main competitive advantages are durability, fuel efficiency, and mobility tailored to mining and resource development environments.

The company has also secured orders outside Africa. HD Construction Machinery has won orders for a total of 71 units, including 20 units of 20-ton class wheel excavators for the Vietnamese government's emergency disaster response and 20-30 ton class crawler excavators for national infrastructure expansion projects. In Kyrgyzstan, Central Asia, the company will supply 41 units, including 52-ton class large excavators and 38-ton class medium and large excavators, for transportation network and real estate development projects.

Meanwhile, HD Construction Machinery released its performance outlook for 2026 through a public disclosure on the same day. The company set its 2026 targets at 8.7218 trillion won in sales and 439.6 billion won in operating profit.

Moon Jaeyoung, CEO of HD Construction Machinery, stated, "Our goal is to achieve results that exceed the market growth rate by swiftly implementing our mid- to long-term strategies after the integration," adding, "We will enhance our business competitiveness through facility investment and technology development."