Global Capital Goods Undervalued Small Caps

Guangdong Mingyang ElectricLtd

Market Cap: CN¥11.6b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

BRC Asia

Market Cap: S$1.2b

Engages in the prefabrication of steel reinforcement for use in concrete in Singapore, Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, India, and internationally.

Palfinger

Market Cap: €1.2b

Provides hydraulic lifting solutions in Austria and internationally.

Capacit'e Infraprojects

Market Cap: ₹20.3b

Engages in the engineering, procurement, and construction business in India.

HD-Hyundai Marine Engine

Market Cap: ₩2.1t

Manufactures and sells marine engines, industrial facilities, and plants in South Korea and internationally.

PC1 Group

Market Cap: ₫8.7t

Engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam.

DEUTZ

Market Cap: €1.4b

Engages in the development, production, distribution, maintenance, and servicing of diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.

Nolato

Market Cap: SEK 13.2b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.

Alimak Group

Market Cap: SEK 12.0b

Designs, manufactures, sells, and services vertical access and working at height solutions worldwide.

Power Solutions International

Market Cap: US$795.7m

Designs, engineers, manufactures, markets, and sells engines and power systems in the United States, the rest of North America, the Pacific Rim, Europe, and internationally.

Symal Group

Market Cap: AU$650.5m

Provides construction contracting, equipment hires, material sales, recycling, and remediation services to the civil construction industry in Australia.

J. Kumar Infraprojects

Market Cap: ₹37.9b

Engages in the construction business in India.

Zehnder Group

Market Cap: CHF 682.5m

Develops, manufactures, and sells indoor climate systems in Europe, North America, and China.

Ashtead Technology Holdings

Market Cap: UK£324.8m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

Hong Leong Asia

Market Cap: S$2.1b

An investment holding company, manufactures and distributes powertrain solutions and related products, building materials, and rigid packaging products in the People’s Republic of China, Singapore, Malaysia, and internationally.

Tai Sin Electric

Market Cap: S$250.8m

Manufactures and deals in cable and wire products in Singapore, Malaysia, Brunei, Vietnam, Indonesia, Myanmar, Cambodia, Thailand, and internationally.

Eurocell

Market Cap: UK£106.6m

Engages in manufacturing, distribution, and recycling of building products in the United Kingdom and the Republic of Ireland.

Magnate Technology

Market Cap: NT$4.1b

Manufactures and sells aircraft, machinery and equipment, and general instrument components and other related products in Taiwan, Japan, and internationally.

Nederman Holding

Market Cap: SEK 4.4b

Operates as an environmental technology company.

Scandinavian Astor Group

Market Cap: €99.6m

Produces and develops solutions to defense and industrial sectors in Europe, Africa, the Middle East, the Americas, and Asia.

Limbach Holdings

Market Cap: US$900.9m

Operates as a building systems solution company in the United States.

Alligo

Market Cap: SEK 6.3b

Provides workwear, personal protection, tools, and consumables in Sweden, Norway, and Finland.

Sangsin Energy Display PrecisionLtd

Market Cap: ₩208.3b

Sangsin Energy Display Precision Co.,Ltd.

Jinlei Technology

Market Cap: CN¥6.3b

Engages in the research, development, manufacture, machining, and sale of wind turbine main shafts, and various castings and forgings in China and internationally.

Reunert

Market Cap: R9.5b

Operates in the fields of electrical engineering, information communication technologies (ICT), and applied electronics in South Africa, rest of Africa, the United States, Australia, Asia, and Europe.

SHAPE Australia

Market Cap: AU$529.5m

Engages in the construction, fitout, and refurbishment of commercial properties in Australia.

Dat Phuong Group

Market Cap: ₫4.0t

Engages in the real estate construction and development business in Vietnam.

First Tractor

Market Cap: HK$12.9b

Engages in the production, manufacture, and sale of agricultural machinery and power machinery.

Energiekontor

Market Cap: €500.9m

A project developer, engages in the planning, construction, and operation of wind and solar parks in Germany, Portugal, Scotland, and the united States.

Mota-Engil SGPS

Market Cap: €1.4b

Provides public and private construction works and related services in Europe, Africa, and Latin America.

Implenia

Market Cap: CHF 1.2b

Provides construction and real estate services in Switzerland, Germany, Austria, Norway, Sweden, France, and internationally.

Nyab

Market Cap: SEK 4.4b

Engages in the provision of advisory, engineering, project management, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland, Sweden, Norway, and internationally.

R&S Group Holding

Market Cap: CHF 865.7m

Manufactures and supplies electrical infrastructure products the United Kingdom, Switzerland, Ireland, Italy, Poland, and the Middle East.

Austal

Market Cap: AU$1.6b

Engages in the design, manufacture, and support of vessels for commercial and defense customers in the United States, Australia, Europe, Asia, and South America.

Storskogen Group

Market Cap: SEK 14.9b

Owns and develops small and medium-sized businesses operating in trade, industry, and services business areas.

OKP Holdings

Market Cap: S$421.7m

Together with its subsidiary, operates as a transport infrastructure and civil engineering company in Singapore and Australia.