XCMG Pouso Industrial Park in Brazil Becomes China's First Construction Machinery-oriented International Economic and Trade Zone

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POUSO ALEGRE, Brazil, Nov. 29, 2019 /PRNewswire/ -- XCMG (SHE: 000425)'s Pouso Industrial Park (the "Park") in Brazil is to become the fourth provincial-level overseas economic and trade zone of Jiangsu Province. It is also the first one in China to give priority to the construction machinery industry.

The Park officially entered operation in June 2014 and connects the industry value-chain to integrate R&D, design, manufacturing, sales, services, spare parts, logistics, financial services and rental. It will serve as a platform to support Chinese corporations that are developing in South America, attracting investment from both China and local enterprises to promote bilateral investment cooperation as well as economic and trade development.

Amid the continued downturn in the Brazilian market and downsizing of notable brands, XCMG has always maintained confidence in the future development of Brazilian economy and adapted to the local market through the development of localized products and technologies and seven South American markets.

In 2018, XCMG Brazil achieved a 60 percent year-on-year growth and ranked fifth overall in the Brazilian construction machinery market, the highest among all Chinese companies. In Pouso Alegre, XCMG Brazil has created 424 job opportunities for the locals.

"Localization is the key of going global, we need to improve constantly to adapt to the local market and treat XCMG as a Brazilian company, which requires changes in the conventional Chinese business operation model and getting out of the comfort zone to learn the Brazilian way, and XCMG is gradually creating a unique 'XCMG Brazil corporate culture,' albeit existing communication gaps," said Wang Yansong, VP of XCMG Construction Machine Co.

"Over the past five years, XCMG's localization strategy has won the recognition and respect in Brazil. Sticking to the goal of "making the world a better place," XCMG Brazil has taken part in nearly 200 social welfare activities and projects ranging from disaster relief, education and poverty alleviation.

In August 2019, XCMG received the Guardiã da Fraterna Integração Brasil China (Guardian of Fraternal Integration Brazil China) on the occasion of 45th anniversary of the establishment of diplomatic ties between China and Brazil.

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SOURCE XCMG

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