Hyundai Construction Equipment (HCE), an affiliate of the Hyundai Heavy Industries GROUP, has signed a distributorship agreement with NEFC, a move that is set to accelerate its forays into the East African market including Ethiopia, Djibouti, Somalia, Somaliland, and South Sudan
NEFC, which operates many businesses, such as construction, mining, hospitality, aviation and aviation, is owned by Mohammed Hussein Al Amoudi, who is said to be one of the richest businessmen in the world. As such, NEFC is considered the most influential construction equipment dealer in East Africa. It has engaged in the business dealing in construction equipment, vehicles and agricultural machinery over the past 156 years and established the total solution infrastructure handling parts and after-sales service.
HCE has already established solid footholds in Sudan and Algeria and expects to make more aggressive forays in other countries in East Africa, which is a prosperous market for construction projects such as dams, highways, commercial and residential buildings, harbors, railroads and mines, through the agreement.
Through the agreement, HCE intends to supply excavators, wheel loaders, backhoe loaders, motor graders and forklifts and strive to meet customers’ needs in that part of the world with focus on diverse solutions and educational sessions provided to teams in charge of sales, services and parts.
The two businesses agreed to sign the unprecedented online agreement to overcome the difficult situation caused by COVID-19. The signing event was started with the introduction of participants, showing of their PR films/business presentations, congratulatory speeches, signing ceremony, and photo-taking.
“We expect to increase our market share in East Africa considerably by teaming up with NEFC, which is exerting a great influence there. We hope that teaming up with an influential business there, along with the expansion of customised service, will incessantly develop the East Africa market,” said Moon, CSO of HCE.