Finance & Funding

Asia Pacific's largest construction machinery exhibition will be held in the Chinese capital China and its neighbouring countries (the new 'target markets') are developing at a very fast pace. The construction machinery market in this area has gradually become the most focused in the world, and in 2007 the sales volume of construction machinery was over 450,000 units. Over the next 10-15 years, construction of large-scale infrastructure will carry on, including projects of national high-speed railway networ

AUSA has opened a new subsidiary in Mexico to give the company a presence in a region. From Mexico, AUSA aims to strengthen its position in North America, said Paco Pérez Salinas, the company’s new sales director. Mexico also offers great growth potential.

Deere & Company plans to build two new factories in Brazil to meet growing market demand for its construction equipment products in Brazil and other South American countries. The total investment is approximately US$180 million with Deere investing approximately $124 million of the total.

Euro Auctions’ May sale in Dormagen, Germany, saw 1,400 lots (30% up on the February sale) go under the hammer, with 20tonne-plus hydraulic excavators being the most popular type of machine sold. Over 250 Internet bidders registered, and Internet bids were placed on 71% of lots with 27% of all final successful hammer bids being received electronically.

Auction firm Ritchie Bros has staged the world’s largest ever heavy equipment auction held between February 13 - 18. New records were set by Ritchie Brothers Auctioneers for gross auction proceeds (US$203million), number of lots sold (more than 10,000), total number of registered bidders (8,670), number of sellers (830), online gross auction proceeds (more than $47million) and number of online bidders (4,070). Every item during the six-day event in Orlando, Florida was sold to the highest bidder—regardless

Caterpillar plans to open a new manufacturing facility in Xuzhou, Jiangsu Province, China, to produce undercarriage components and track assemblies, which are utilised on Cat hydraulic excavators.