CLARK MATERIAL HANDLING VIET NAM CO., LTD

CLARK MATERIAL HANDLING VIET NAM CO., LTD is a foreign-invested manufacturer established in 2018, headquartered at Km 38, National Highway 5, Mao Dien Commune, Hai Phong City. The company operates two factories in Hai Duong Province, specializing in the manufacture, assembly, and supply of forklifts and lifting equipment.

The company’s charter capital is about USD 7.09 million, fully paid up by foreign shareholders — mainly Clark Material Handling International Inc. (South Korea, 94.74%) and Clark Material Handling Company (USA, 5.26%). General Director Mr. Kim Sundeuk leads it and employs roughly 100 staff.

Financial Highlights

Clark Vietnam recorded strong financial momentum over the past three years:

• Revenue surged from USD 43.96 million in 2021 to USD 101.41 million in 2023, a remarkable 26.4% increase YoY in 2023.

• Net profit jumped to USD 3.42 million in 2023, up 257% from 2022.

• Equity increased nearly 355%, reaching USD 4.39 million, while total assets slightly declined to USD 47.07 million, showing improved capital efficiency.

Despite a negative working capital of about USD 6.4 million, the company’s profitability and asset base signal a solid recovery and sustainable growth trend.

Market Position

Clark Vietnam operates in a rapidly expanding material handling and warehouse equipment market, which grows alongside Vietnam’s industrialization and logistics expansion. Demand for forklifts has been rising by roughly 12–15% annually, driven by e-commerce logistics and the establishment of new industrial parks.

By producing forklifts locally, Clark helps reduce import dependency and shorten delivery times — key advantages over fully imported machinery. Its factories in Hai Duong serve both the domestic market and exports within ASEAN, supported by its strategic location on the Hanoi–Hai Phong logistics corridor.

Outlook

Vietnam’s logistics and industrial infrastructure — including ports, highways, and warehouses — is expanding rapidly, generating strong demand for material handling equipment. Backed by South Korean and U.S. technology, Clark Vietnam is poised to capture these opportunities, especially in eco-friendly and electric forklifts, which industrial clients increasingly favor.

With annual revenue exceeding USD 100 million and a proven record of profitability improvement, Clark Vietnam is expected to maintain double-digit growth as it continues to strengthen its production efficiency and local supply chain integration.

In short, Clark Vietnam’s 2023 performance marks a significant milestone, reflecting not only its operational turnaround but also Vietnam's broader transformation into a manufacturing and logistics hub in Asia.