Hitachi Construction Machinery sees profit doubling over 4 years
Hitachi Construction Machinery Co Ltd is targeting 70 percent growth in sales and a doubling in profit over four years as demand for earth-moving equipment booms in China, India and Russia, its CEO said recently in Tokyo.
Like bigger rival Komatsu Ltd and industry leader Caterpillar Inc, Japan’s second-largest maker of construction machinery is gearing up for what it sees as long-term growth for many emerging economies.
Led by India’s construction boom and China’s urbanization drive, global demand for mining and construction machinery has already resulted in four years of record profits for Hitachi Construction - one of the few money making units of electronics conglomerate - Hitachi Ltd.