Hyundai Material Handling to reenter the Turkish market
Hyundai Material Handling signed a DISTRIBUTION AGREEMENT with TETAS İÇ ve DIŞ TİC. A.Ş.
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A full-fledged attack resumes on the Turkish market by signing a DISTRIBUTION AGREEMENT with TETAS, Turkey’s leading firms.
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Fast entry to the market and securing a market share are expected by selecting dealers with experience in handling other brands in the same industry.
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Expansion of the mid- to long-term retail and rental business will be driven on the basis of TETAS’s know-how in the forklift business.
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On March 17, Hyundai Material Handling signed a DISTRIBUTION AGREEMENT with TETAS, the largest Turkish company, to actively target the Turkish market.
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TETAŞ, HYUNDAI ile güçlerini birleştirerek , satış ve servis şubelerini sırasıyla 29 alt bayiye genişletmiş, profesyonel ekibini oluşturarak, hızlı bir pazar payı elde etmek için güvenle yola devam etmektedir.
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TETAS, Turkey’s leading firms, has a sufficient sales and service network and is capable of carrying out the Material Handling business immediately on the basis of its experience in handling other brands in the same field.
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TETAS showed great commitment to Hyundai Material Handling and expressed expectations and confidence in securing a fast market share by expanding its sales and service branches to 29 sub-dealers, respectively, and hiring a number of new professionals for this contract.
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Vincent An, a head of Hyundai Material Handling Global Sales Department, said, "This contract with a large-scale Distributionship is expected to make it easier to target the Turkish market" adding, "This year’s sales of Material Handling in Turkey are expected to reach as many as 120 units, even though this is the first business year, and we expect to recover 8-10% of the Turkish market share in the next two to three years."
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Meanwhile, TETAS has already placed an initial order worth USD 2,500,000 for the forklift business with Hyundai Material Handling and has begun to establish a full-fledged marketing activity plan.
