Mining equipment company Joy Global Inc. said it's prepared to expand in low-cost countries, such as China, should market conditions warrant the move and more business comes from overseas.

"I think this is both an effective and prudent strategy to be following,” Michael Sutherlin, president and chief operating officer of Joy Mining Machinery said.

Much of the growth has been driven by the need for coal, iron ore and copper to fuel the economies of emerging industrial countries. China, India and Russia alone represent hundreds of millions of dollars in equipment sales for years to come.

The company also wants to be closer China for growth reasons. "Our largest growth opportunity is in the emerging markets," Sutherlin said. "As the Chinese market matures, we see it looking and behaving more like the U.S. market. To succeed, you have to be a player. You can't be on the outside and expect to export your equipment into the country. That's definitely the case in the United States, and it's increasingly the situation in China as well." China can make "instant decisions" and the entire country implements them, he added.

Source:佚名