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HD Hyundai Infracore Secures Order for 39 Develon Excavators from Turkiye Ministry of National Defense

First order from Turkiye government highlights Develon's superior engine power and fuel efficiency
South Korea
h 042670.KO Mid and Small Cap 2000
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HD Hyundai Infracore Co. announced on Thursday that it has secured an order for 39 large excavators under its Develon brand from the Turkiye Ministry of National Defense. The order comprises 34 38-ton excavators and 5 50-ton excavators, with delivery scheduled by the end of the year.

This is the first time HD Hyundai Infracore has received an order from the Turkiye government. Despite the Turkiye construction machinery market being dominated by local brands due to tax benefits for domestically produced items, HD Hyundai Infracore secured this substantial order by emphasizing the superior engine power and fuel efficiency of its Develon products.

The company plans to further participate in the Turkiye Ministry of National Defense’s excavator bids, leveraging the success of this recent order. “This order strengthens our brand recognition in the Turkiye market and provides an opportunity to actively participate in government bids. We will strive to increase our market share,” said a company official.

Turkiye is emerging as a significant export market for HD Hyundai Infracore. Last year, the company signed a contract worth 313.1 billion won ($226.2 million) to supply next-generation tank engines to the local defense company BMC. Additionally, it supplies generator engines to four Turkiye generator manufacturers, including Aksa and Teksan.

This order marks a significant milestone for HD Hyundai Infracore, as it continues to expand its presence in the Turkiye market and beyond, showcasing the reliability and efficiency of its Develon brand excavators.

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