TWO Russian heavy equipment and cargo truck manufacturers have decided to explore business in the country with a Cebu-based company.
Ural and RM Terex brought to Cebu their product lines through Conequip, a homegrown distributor of heavy equipment in the country like excavators, wheel loaders, off-road trucks, and backhoe loaders, among others.
“The Philippines is an interesting market for us. I hope the result of our effort will be mutually profitable,” said Evgeni Ilinykh, Ural sales manager, who also noted how both countries’ leaders have expressed mutual interest in improving trade and economic ties.
RM Terex is a joint venture between Russian Machines and Terex Corp., with main products being backhoe loaders, wheel and crawler excavators, motor graders, and amphibious all-terrain vehicles. Ural is a Russian manufacturer of welding equipment and vehicles.
Conequip Chief Executive Officer and Chairman Seth Oliver Tio said the launch of the Russian brands will help support Conequip’s business, alongside the infrastructure projects all over the country.
“There’s still a lot of potential for the infrastructure business to grow in the next few years, not only in Cebu, but in other parts of the country,” said Tio.
About 60 percent of the company’s revenue is driven by government purchases, while the remaining 40 percent is derived from private contractors.
In June, Conequip will unveil its new showroom in Davao City. It carries six heavy equipment brands to date.
Tio said he will also join the delegation President Rodrigo Duterte will lead to Russia this May 25.