On February 14, LiuGong and Yontrakarn Machinery Company Limited (hereinafter referred to as “Yontrakarn”) held an online & offline joint venture contract signing ceremony. This is the first joint venture of LiuGong in RCEP region. Mr. Zeng Guang’an, Chairman and CEO of LiuGong, Mr. Li Yuning, Senior Vice President of LiuGong and Vice President Mr. Luo Guobing, Mrs. Mukda Pruitthithada, President of Yontrakarn, General Manager Mr. Kittichai Pruitthithada and Director Mrs. Ponjira Pruitthithada attended the ceremony.

Mr. Zeng Guang’an said during the ceremony, “We will witness a new historical moment for LiuGong in Thailand. LiuGong and Yontrakarn have remained a sincere cooperation and fully exerted the strength of both parties, jointly promoting the long-term sustainable development in Thailand. Our goal for the new joint venture with Yontrakarn is to be closer to the customers and make great contribution to Thailand’s construction machinery industry.”

Yontrakarn was established in 1989. It has become one of the leading construction machinery distributors in Thailand. Its 150 professional staffs and 16 branches cover most areas of Thailand. LiuGong has achieved outstanding results in Thailand together with Yontrakarn during 11 years of cooperation.

In 2021, LiuGong exported more than 400 units of construction machines to Thailand. The market share of LiuGong wheel loader reaches more than 40% and has ranked first for many years in Thailand. With good market reputation, LiuGong gains the trust of Thailand’s top company–CP group and cooperates with their professional university to establish the first international vocational college in Thailand and cultivate more talents for the construction machinery industry.

At the beginning of January, LiuGong wheel loaders were delivered to Thailand from Shenzhen Port. This is the first batch of construction machinery exported by LiuGong and also Guangxi under RCEP.

2022 is the crucial year for the “Thailand 4.0” and “EEC” plan proposed by Thailand’s prime minister. Establishing the joint venture with Yontrakarn in Thailand is another milestone of LiuGong’s globalization and will promote its in-depth development in the Asia-pacific region and the Thai market.

Mrs. Mukda Pruitthithada said, “From our success in making LiuGong wheel loader No.1 in Thailand for many years, I believe that this new collaboration and direct support from LiuGong will even push LiuGong success in Thailand even further into other product lines. I would like to thank you for LiuGong support and trust in making us a strategic partner. We will work closely together to make LiuGong a top construction machine provider in Thailand.”

LiuGong, Yontrakarn and their new joint venture will strengthen cooperation and collaboration in sales, service, financial support and social responsibilities, serving the customers more professionally and improving LiuGong brand’s awareness in Thailand market with new platform and strategy.

In 2002, LiuGong put forward the globalization strategy. Since then, LiuGong has had more than 300 dealers, 13 overseas subsidiaries, 3 overseas manufacturing plants and 5 R&D bases spreading across the world. 2022 will marks LiuGong’s 20th anniversary of the overseas business operation. Guided by the reform of building a world-class enterprise with global competitiveness, LiuGong will continue to actively build a synergistic global strategic partnership across the entire value chain by firmly promoting the “Total Globalization, Total Solution and Total Intelligent” strategy.