Hyundai Doosan Infracore Co. has landed a series of new orders for total 138 heavy machines in the South American market.

The heavy construction equipment maker under South Korea’s Hyundai Heavy Industries Group said Tuesday that it bagged an order to supply 60 excavators – 26 ton, 34 ton, and 36 ton models – for Celulosa Arauco y Constituición S.A. (Arauco), the largest forestry and timber company in Chile. Financial terms of the order were not disclosed.

Hyundai Doosan Infracore won another order for a total of 28 building excavators and wheel loaders from Chile’s major mining and construction company Besalco S.A, along with a deal to supply 50 heavy duty machines for Colombian construction equipment rental company SK Rental Colombia.

The Columbian firm currently runs about 80 heavy equipments and 60 units are from Hyundai Doosan Infracore.

Hyundai Doosan Infracore also did not reveal the value of the additional orders.

On Tuesday, Hyundai Doosan Infracore shares finished 2 percent lower at 9,320 won ($7.99).

The construction equipment market in Central and South Americas is estimated at 27,000 units for this year, up 47 percent on year. Continuous growth in demand is expected for the region, rich of natural resources, said an analyst.

Hyundai Doosan Infracore was previously a unit of Doosan Heavy Industries & Construction. Hyundai Heavy Industries Group in a consortium with KDB Investment acquired the heavy equipment company in August this year after purchasing a 34.97 percent stake at 850 billion won.

By Pulse

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