industrea lands $18.8m oreder from chinese coal customer
industrea lands $18.8m oreder from chinese coal customer
Global mining products and services provider Industrea Limited has continued its rapid growth in China, today announcing a record $18.8 million order from a new Chinese coal customer.
The new order signed with Industrea's China-based subsidiary Wadam Industries is for the delivery of eight AMT directional drilling and methane gas drainage systems to major Chinese miner Yangquan Coal Industry (Group) Co, based in Yangquan, Shanxi Province.
Established in 1950, Yangquan Coal Industry is a diversified business group with more than 128,000 employees spanning the coal, aluminium, electricity, construction and manufacturing industries, with current coal production capacity of 45 million tonnes.
Industrea Managing Director and CEO, Robin Levison, said this latest Chinese equipment order once again proved the value of the company's investment in the world's largest coal market, with China's major miners' intent on achieving world-class standards of productivity and safety.
"Industrea has benefited from its strong relationships and excellent reputation for delivery in China to secure this agreement with Yangquan, picking up the $10 million per month pace of new product orders secured since the start of the 2009/10 financial year," Levison said.
"This is the largest single sale ever secured by AMT and Wadam in China, and we anticipate there are more to come as the nation's coal miners venture further underground into its gassy coal mines, making our best-of-breed systems indispensable."
More than 70 AMT directional drilling and methane gas drainage systems are currently in operation worldwide, with the majority stationed in China.
"Industrea's major Chinese customers such as China Shenhua Energy are ramping up coal production at double-digit levels, with the Government and industry favouring the development of large-scale mines with modern equipment and safety standards," Levison said.
"This industry consolidation has led to a focus on quality, with increasing demand for our leading range of coal mining equipment, including methane gas drainage and collision avoidance systems and longwall roof support carriers."
Industrea is also seeing growth in other international markets along with Australia, in line with the ongoing pick-up in the global resources industry and the renewed confidence of leading producers.
"The company has recently sold an AMT drill guidance system to a Japanese customer for a non-mining civil application, which may create opportunities for a new sales channel," Levison said.
"Meanwhile, through our Russian agent, we have secured the sale of a second AMT directional drilling and methane gas drainage system into the equally large and gas prone Russian market with further sale opportunities anticipated."
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