CBI, Record High Demand for Agricultural Machinery... Increased Expectations for Q3 Performance

[Asia Economy Reporter Park Soyeon] CBI is forecasting strong performance in its internal combustion engine business division, driven by record-high demand for agricultural machinery parts in the third quarter, following the peak tractor sales season in the second quarter.

CBI is a materials and components specialist company with 63 years of experience. In its core business area of internal combustion engines, it supplies engines and transmissions required for complete agricultural machinery products, as well as power transmission parts, leveraging its advanced processing technology. Its clients include leading domestic agricultural machinery companies such as TYM (Gukje Jonghap Gige), Daedong Co., Ltd., and LS Mtron.

Gukje Jonghap Gige, a long-term partner of CBI, recently officially merged under the name TYM, and the synergy from this integration is expected to generate annual sales of 1 trillion KRW. Daedong Co., Ltd. is also projected to continue its record-breaking performance, and CBI anticipates mutual growth through these developments.

Recently, due to the Russia-Ukraine war and rising prices, securing food supplies has become a top priority for countries worldwide, and domestic demand fluctuations are expected to remain minimal in the future.

With limited arable land and an aging agricultural workforce, demand for agricultural mechanization continues to rise steadily, and the agricultural machinery market is expected to maintain its growth trend.

A CBI representative stated, "To grow together with our clients based on trust, we will produce the highest quality parts," adding, "We will secure more systematic and specialized production capabilities and practice strategic corporate social responsibility."

This content was produced with the assistance of AI translation services.