Sao Paulo, Brazil, 12 Aug – China’s Xuzhou Construction Machinery Group (XCMG) wants to increase its exports of machinery to Brazil instead of investing in local production, board member Li Suo Yun said Monday in Sao Paulo.
Admitting his knowledge of Brazilian markets was limited, Li said he was aware the Acceleration Program for Brazilian Growth and a booming civil construction sector have fuelled his firm’s exports to Brazil.
In 2007, the state-controlled Chinese firm sold 250 dock cranes to Brazil, 300 steamrollers and 100 other units including motorized levelers and fork-lift trucks.
XCMG’s sales to Brazil account for just 10 percent of its total exports. Li said the firm would ship 450 cranes and 700 steamrollers to Brazil this year.
In comments to business newspaper Valor Economico, Li said his company has no plans to invest in Brazil, but is seeking a local partnership. This will likely be with Brasil Maquinas, he added.
XCMG produced 30,000 machines in 2007 with a turnover of US$ 5 billion, some US$ 600 million of which came from exports. (macauhub)