XCMG, China's leading construction machinery manufacturer, has concluded a successful trip to the 2018 China (Panama) Commercial Exhibition in Altapa, Panama, the largest economic and trade exhibition China has hosted in Panama since the two countries established diplomatic relations in 2017.
Juan Carlos Varela, President of Panama, was briefed on XCMG's strategic international layout and operations in the Panama market and spoke highly of XCMG's technologically-advanced products and its contributions to infrastructure construction projects in the country.
"A leader in the Chinese construction machinery industry, XCMG is committed to supporting Panama's railway, bridge, road and harbor construction alongside other Chinese companies under the guidance of the 'Belt and Road' Initiative. We follow the strictest quality standards and are focused on solving our clients' needs," said Wang Min, Chairman and President of XCMG.
The brand's XE215 excavator was the star of the show. The streamlined model adopts XCMG's LSHT engine and new control system that achieves the dynamic performance match of engine and main pump, reducing fuel consumption by 7% while improving efficiency by 10%.
Meanwhile, the XC870K backhoe loader also impressed audiences in Panama with its 38 patented technologies - four of which are for inventions. This model combines excavating and loading and is in huge demand for infrastructure construction projects worldwide, owning more than 25% of China's export market, ranking first for several years in a row.
XCMG entered the Panama market in 2017 and achieved major breakthroughs in 2018, with sales in the country increasing by 250%. XCMG now occupies 50% of the country's construction machinery import market.
XCMG is developing at a steady pace in the Americas. In North America, it has established an R&D center and multiple spare parts centers to support local operations. Recently, XCMG exported 40 of its newest XC948 loaders to the region.