Construction Machinery Industry Displays Vibrant Growth in Mainland China, Precision Tsugami Achieves nearly 140% Growth in Construction Machinery-Related Orders
HONG KONG, Sep 28, 2020 - (ACN Newswire) - With the COVID-19 pandemic gradually under control in Mainland China, the resumption of work and production has started while demand for infrastructure and real estate construction has driven the strong growth of construction machinery industry. Precision Tsugami (China) Corporation Limited ("Precision Tsugami", together with its subsidiaries, the "Group", stock code: 1651), the largest foreign-owned CNC high precision machine tool manufacturer in China has made advanced business deployment in the industry and capitalised on the related opportunities, leading to a substantial year-on-year growth of nearly 140% in construction machinery-related orders between January and August 2020. According to the latest data issued by China Construction Machinery Association, statistics from 25 excavator manufacturers showed that a total of 20,939 excavators in different types were sold in August 2020, representing a growth of 51.3% y