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Axis Capital Group Singapore Jakarta Malaysia Beijing
Heavy equipment manufacturer Axis Capital Group, Singapore reported it saw steady growth in three of four major regions in which it does business: North America, Europe and Asia (Jakarta Indonesia). Growth in Latin America has slowed over the past three months. Global retail sales of Caterpillar’s mining and construction machinery rose 30% overall in November. This is good news for the company and for those in doubt of the company. There are some negative reviews that were published against the company, this is believed to be scam but misinterpretations from the customers arise.
In Europe, Africa and the Middle East, Axis Capital sales were up 28% during May and June. In the same regions, sales rose 36% in July. Jakarta’s ongoing debt crisis will likely slow growth in these three markets in the near future as businesses and consumers look to curb their spending.
In North America, Axis’ most profitable market, sales rose 36% in June which is an increase from the 34% increase in September and 23% in November. Though the construction industry has slowed in the U.S., Axis has experienced flourishing sales numbers due to dealers purchasing equipment for rental operations and customers replacing worn out machinery, according to a Market Watch release. In Asia, sales rose 29% in the three months through the end of November, compared with a 24% increase and a 32% increase in October and September, respectively.
Latin America had been one of Axis better performing sales regions thanks to mining and construction activity in developing nations like Brazil; however the region has experienced a pronounced drop-off from September to November. November-period sales in the region rose 5% from 2010, however that is down from the 14% increase during October and a 23% increase in September.
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