During APEX 2023 in Maastricht, Netherlands, Sinoboom Chairman, Steven Liu, announced details of the company’s plans for beginning production of MEWP equipment in Mexico.
Construction of a new 1,614,600 sq. ft. facility will begin soon in Monterrey, with production expected to start by the second half of 2024.
When fully operational, annual production capacity is forecast to reach 20,000 scissor lift and 10,000 boom lift units. The new factory will be Sinoboom’s second overseas production facility, following the establishment of a factory in Poland in 2022.
Steven Liu stated that this investment is a part of Sinoboom’s vision to establish itself as a “Top 4” global MEWP manufacturing brand by 2025, and that revenues outside of China would represent approximately 50% of the company’s total by that point, with further export sales increase in the years to follow. Meanwhile, growth in China is also expected to increase, as the access market matures.
Steven Liu spoke about the company’s plans for IPO on the Shanghai stock exchange later in 2023, which will unlock growth capital to support the expansion and will stand as a milestone in Sinoboom’s journey.
As a specialist MEWP manufacturing company, Sinoboom remains focused on the access sector, as well as related products such as telehandlers.