HD construction equipment wins major African order

HD Construction Equipment, the unit managing HD Hyundai's construction equipment business, has started 2026 on a strong note, securing a significant order shortly after its launch, signaling progress toward achieving this year’s sales targets

On Wednesday, January 14, the company announced that it had finalized a contract to supply 120 large excavators to Ethiopian mining development companies. The order includes 70 units of 36-ton DEVELON excavators and 50 units of 34-ton HYUNDAI excavators, which will be deployed at a major Ethiopian gold mine.

HD Construction Equipment dominated the Ethiopian excavator market last year, capturing an 80% market share, cementing its position as the leading local provider through superior product competitiveness and customer service.

Sales of HD Construction Equipment’s 30-ton class mid- to large-sized excavators have doubled annually over the past three years. These machines are prized for their stability and durability in resource development environments across Ethiopia and other African regions, while also offering high maneuverability and fuel efficiency.

Looking ahead, HD Construction Equipment plans to strengthen customer support through local bases in Ghana and South Africa. The company aims to leverage the combined sales strength of HYUNDAI and DEVELON, which have established strong brand recognition in Africa, and to implement a cooperative system to meet rising equipment demand in major regional markets.

The company has also secured significant orders in Southeast Asia and the Commonwealth of Independent States (CIS), key emerging global markets. In Vietnam, HD Construction Equipment received an order for 71 units, including 20 units of 20-ton wheeled excavators for emergency disaster response and 51 units of 20–30 ton crawler excavators for national infrastructure projects.

In Kyrgyzstan, the company will supply 41 units, including 52-ton large excavators and 38-ton medium-large excavators to support transportation network expansion and real estate construction.

On January 14, HD Construction Equipment also released its 2026 performance forecast, presenting annual sales and operating profit targets during a conference with domestic and international institutional investors at the Korea Teachers’ Credit Union in Yeouido. The company targets KRW 8.7218 trillion (approx. US$5.92bn) in sales and KRW 439.6 billion (approx. US$298mn) in operating profit for the year.

CEO Moon Jae-young commented, "We aim to deliver performance results exceeding market growth by rapidly implementing our mid- to long-term strategy and leveraging integration synergies. We will also proactively engage in facility investment and R&D to establish core competitive advantages for our construction machinery operations."