LEADWAY Heavy Machinery Co., Ltd. partners with Shandong Pengxiang from China to launch the new PX90ATYQ Mining Dump Trucks into the milling and mining market, as part of its business roadmap in response to the gaining momentum of Thailand’s macroeconomic growth.
Mr. Chakart Seanchan, CEO, LEADWAY Heavy Machinery Co., Ltd. emphasized that the partnership with Shandong Pengxiang Automobile Co., Ltd. from China marks an important business milestone for LEADWAY in Thailand and the region. The launch of PX90ATYQ will uplift the industry with its high-performance features including 530HP engine, 35 metric tons body capacity, automatic transmission, Hydro-pneumatic suspension, 16.00R25 radial tire, automatic grease compressor and GPS tracking system.
As an official distributor, LEADWAY places paramount importance on the ‘One Stop Service’ system supporting its Thai and foreign companies on the before- and after-sales services across the full lifecycle of the products. LEADWAY also works with customers to source proper local and cross border financing and leasing options with a maximum of 48-month installment period to help meet with their vehicles needs and business viability.
“The market value for mining truck is estimated at 1,000 million baht annually in the past two years, which is considered positive, resulting from the increased investment in the sector. In 2019, we would see a demand increase of around 30% to support Thailand’s infrastructure development action plan. This excludes the mega development projects in the neighboring countries; Myanmar and Laos”.
Mr. Yang Ming Jie, Assistant General Manager of Shandong Pengxiang Automobile disclosed that the company has entered into the firm commitment with LEADWAY because we have firm confidence and realize the high potential for good growth prospects. We trust in LEADWAY’s business strengths, professional teams and market knowledge.
“With our long-standing experience and world-renowned product quality and value in axle production, Shandong Pengxiang support and believe in the bright future of Thai heavy construction industry. Thailand has high potential market growth being the big player in the region. Thai government also has clear strategic plans to attract more local and foreign investments to drive the country’s economic development.”
The marketing penetration plan for PX90ATYQ for the first year after the launch, LEADWAY main customer targets are the subcontractors in the Mae Moh Mine in Lampang province and the Hongsa projects in Myanmar which show promising signs of continued growth. Currently there are more than 15 subcontractors primarily engaging in the Overbuden Removal Services of Mae Moh Phase 8 and Phase 9 under the main contractors of Sahakol Equipment PCl and Italian-Thai Development PCL.
With high-performance PX trucks and LEADWAY’s full operation services and financial options, the company estimates the demand for mining dump trucks from these subcontractors will hit approximately 200-300 units.
“Under the future marketing move, LEADWAY plans to penetrate the rock milling and cement industrial sector in the northern and lower northeastern regions with high growth prospects. In addition, when the geographic location of mining areas under the national master plan has been determined, concessions grants will be opened for new mining operators. The development will help stimulate higher demand for mining machinery and trucks to support the country’s mega projects in the next 6-8 years from now,” Mr. Chakart explained.
The strategic location of Thailand as a gateway into the region poises advantages for LEADWAY to penetrate the strong growth momentum of CLMV market with several ongoing and new infrastructure development plans in Myanmar, Cambodia and Laos. Large scale infrastructure and industrial projects in Myanmar include Jade Mine, Gold Mine, Coal Mine, Cement Coal Mining Project in Moe Lamai Town, Dawei Deep Sea Port Project, as well as various dam and power generation projects. While in Laos, a number of mega developments include Coal Mine, Hongsa Power Plant, and various dam and power generation projects.
LEADWAY predicts that by the end of 2019, the sale of PX90ATYQ Dump Trucks will achieve 60 units.