Global Capital Goods Undervalued Small Caps

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.8b

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

Altea Green Power

Market Cap: €111.4m

Supplies and manages renewable energy plants in Italy and the United States.

PORR

Market Cap: €1.1b

Operates as a construction company in Austria, Germany, Poland, the Czech Republic, Italy, Romania, Switzerland, Serbia, Great Britain, Slovakia, Norway, Belgium, and internationally.

Tennant

Market Cap: US$1.3b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Windey Energy Technology Group

Market Cap: CN¥13.4b

Researches, develops, manufactures, and sells wind turbines in China.

Colt CZ Group

Market Cap: Kč41.0b

Engages in the production and sale of firearms, ammunition products, and tactical accessories in the Czech Republic, Canada the United States, rest of Europe, Africa, Asia, and internationally.

Heidelberger Druckmaschinen

Market Cap: €571.5m

Manufactures, sells, and deals in printing presses and other print media industry products in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Palfinger

Market Cap: €1.1b

Produces and sells crane and lifting solutions in Austria and internationally.

Byrna Technologies

Market Cap: US$396.6m

A less-lethal self-defense technology company, develops, manufactures, and sells less-lethal personal security solutions in the United States, South Africa, Europe, South America, Asia, and Canada.

China State Construction Development Holdings

Market Cap: HK$2.8b

An investment holding company, engages in the general contracting business in Hong Kong and internationally.

Bird Construction

Market Cap: CA$1.4b

Provides construction services in Canada.

LSI Industries

Market Cap: US$544.7m

Manufactures, markets, and sells non-residential lighting and retail display solutions in the United States.

Soilbuild Construction Group

Market Cap: S$521.2m

An investment holding company, engages in the residential and business space properties construction in Singapore, Myanmar, Malaysia, and internationally.

Rosenbauer International

Market Cap: €463.1m

Engages in the provision of systems for preventive firefighting and disaster protection technology worldwide.

Ashtead Technology Holdings

Market Cap: UK£260.4m

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

Bozhon Precision Industry TechnologyLtd

Market Cap: CN¥14.0b

Bozhon Precision Industry Technology Co.,Ltd.

Jinlei Technology

Market Cap: CN¥8.4b

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

HD Hyundai Construction Equipment

Market Cap: ₩1.7t

HD Hyundai Construction Equipment Co.,Ltd.

Arwana Citramulia

Market Cap: Rp3.8t

Manufactures and distributes ceramic tiles in Indonesia.

Hong Leong Asia

Market Cap: S$1.6b

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.

People & Technology

Market Cap: ₩878.6b

Offers coating, calendaring, slitting, automation, and other machineries.

Norcros

Market Cap: UK£279.8m

Designs and supplies bathroom and kitchen products in the United Kingdom, Ireland, and South Africa.

Cadeler

Market Cap: NOK 14.2b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

Thermador Groupe

Market Cap: €664.0m

Engages in the distribution business in France and internationally.

Hyundai Elevator

Market Cap: ₩2.9t

Designs, manufactures, installs, maintains, and modernizes elevators in South Korea and internationally.

Precision Tsugami (China)

Market Cap: HK$11.2b

An investment holding company, manufactures and sells computer numerical control machine tools primarily in Mainland China.

Mangata Holding

Market Cap: zł408.6m

Manufactures and sells fittings, castings, fasteners, and components in Poland, the European Union, and internationally.

R&S Group Holding

Market Cap: CHF 595.8m

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

Insteel Industries

Market Cap: US$595.3m

Manufactures and markets steel wire reinforcing products for concrete construction applications.

2G Energy

Market Cap: €475.4m

Manufactures systems for decentralized energy supply in Germany and internationally.

Xi'an Sinofuse Electric

Market Cap: CN¥10.4b

Engages in the research, development, production, and sale of fuses and related accessories in China.

Vp

Market Cap: UK£225.2m

Provides equipment rental and related services in the United Kingdom and internationally.

Magellan Aerospace

Market Cap: CA$949.8m

Through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe.

Scott Technology

Market Cap: NZ$235.5m

Engages in the design, manufacture, sale, and servicing of automated and robotic production lines and processes for various industries in New Zealand and internationally.

HDC Hyundai Development

Market Cap: ₩1.3t

Operates as a financial real estate company, provides real estate services primarily in South Korea.

Hantech

Market Cap: ₩368.1b

Produces and sells chemical process equipment/storage tanks and cryogenic containers in South Korea.