XUZHOU, China, July 13, 2016 /PRNewswire/ -- Global leading construction and mining equipment manufacturer XCMG ranked highest among all Chinese construction machinery companies on World Brand Lab's 2016 list of China's Top 500 Most Valuable Brands released at the World Brand Summit on June 22 in Beijing, China.
With a brand value of 43.081 billion yuan (US$ 6.45 billion), a 69.64% year-on-year increase, XCMG is the most valuable brand in the Chinese construction machinery industry due to its quality, innovation, brand value and social responsibility.
"XCMG's strategy is leading a path of becoming a reliable, world-class enterprise with unique value and innovative capability through our ceaseless exploration in engineering technology to provide sustainable and trustworthy solutions for global construction projects," said Xu Xiaohui, assistant general manager of XCMG.
As a frontrunner in the construction machinery industry, XCMG is making steady progress in developing new technologies and products, including the successful launches of a 2,000-ton all-terrain crane and Asia's highest aerial platform fire truck. The company now holds 4,573 effective patents, 596 of which are authorized invention patents.
XCMG began its global expansion in 2010, making several crucial purchases and investments in Europe, North America, Middle Asia, Brazil, India and other important markets as well as operating six international assembly plants. Now the company's products are sold in more than 170 countries and regions worldwide.
The company has also established a global sales and service network including more than 280 a-level agencies, ranking top three in the markets of Brazil, Russia, Australia, Middle Asia and the Middle East.
In the KHL Yellow Table 2016 released recently, XCMG maintained its ninth place ranking among all construction machinery manufacturers in the world, the only Chinese brand to feature in the top 10.
"With a keen focus on building a brand that not only provides innovative, high quality products and efficient services, XCMG's long-time commitment to global public welfare projects to shoulder the responsibility of sustainable development of human society is also bringing the company wider recognition worldwide," added Xu.
XCMG is a multinational heavy machinery manufacturing company with a history of 73 years. It currently ranks ninth in the world's construction machinery industry. The company exports to more than 170 countries and regions around the world.