XCMG (SHE:000425) has confirmed purchasing orders totaling $50 million and reached purchase intentions worth $249 million in total at the 4th China International Import Expo (CIIE) which was hosted from November 5 to 10 in Shanghai.
The scale of the 4th CIIE exhibition has expanded compared to previous editions, with about 3,000 exhibitors from 127 countries and regions joining the trade show this year. XCMG is committed to further developing its supply chain and elevating the technological competitiveness of its construction machinery equipment by absorbing cutting-edge technologies and advanced parts and components.
XCMG is buying parts and components including chassis, engines, tires and more from leading global suppliers Daimler, MTU, Volvo and Michelin, valued at $50 million.
“XCMG uses our domestic and European procurement centers as two fulcrums to coordinate the group’s global procurement organization, forming a global supply chain system that integrates and utilizes premium resources which serve and support XCMG’s global R&D and industrial manufacturing bases,” said Dawei Jiang, GM Xuzhou XCMG Material Supply.
In addition, XCMG is constantly establishing deeper and more profound partnerships with foreign businesses in the field of non-product related material procurement, aiming to promote in-depth cooperation and jointly achieve high-quality development as well as promoting the ‘dual cycle’ development pattern in both international and domestic markets, according to Jiang.
At CIIE, XCMG is also strengthening intelligent manufacturing and green, low carbon development exchanges and cooperation with core component manufacturers with the goal of creating products that not only guarantee “high performance,” but also “high efficiency” that contribute to energy conservation and emissions reduction.
“CIIE is an open platform for Chinese and foreign companies to exchange and communicate. XCMG will continue to carry forward our innovation-driven development strategy and introduce advanced parts and system equipment to achieve high-quality development of various industrial sectors, so that our products are winning the trust of global customers,” said Jiang.