Global Capital Goods Healthy potentially undervalued

Cadeler

Market Cap: NOK 20.7b

Operates as an offshore wind installation vessel contractor in Denmark, the United Kingdom, Germany, Poland, rest of Europe, the United States, and Taiwan.

EuroGroup Laminations

Market Cap: €158.2m

Engages in the design, production, and distribution of motor cores for electric motors and generators.

Atmus Filtration Technologies

Market Cap: US$4.4b

Designs, manufactures, and sells filtration products under the Fleetguard brand in the United States and internationally.

DEME Group

Market Cap: €4.2b

Provides marine solutions in Belgium, Europe, Africa, the United States, Asia, and the Middle East.

Douglas Dynamics

Market Cap: US$972.0m

Operates as a manufacturer and upfitter of commercial vehicle attachments and equipment in North America.

Bouygues

Market Cap: €19.0b

Operates in the construction, energies and services, telecom, and media sectors in France and internationally.

Eiffage

Market Cap: €11.9b

Engages in the construction and concessions businesses in France, Germany, Europe, and internationally.

Sinoma International EngineeringLtd

Market Cap: CN¥21.3b

Operates in the cement technology equipment and engineering services industry in China and internationally.

L3Harris Technologies

Market Cap: US$51.7b

Provides mission-critical solutions for government and commercial customers worldwide.

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥23.3b

Manufactures and sells power distribution in China and internationally.

Jinlei Technology

Market Cap: CN¥7.0b

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

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.4b

Engages in the research, development, production, and sale of power transmission, distribution, and control equipment in China and internationally.

Ningbo Orient Wires & CablesLtd

Market Cap: CN¥34.8b

Engages in the research, development, manufacturing, and sale of various submarine and terrestrial cable products in China and internationally.

Titan International

Market Cap: US$466.0m

Manufactures and sells wheels, tires, and undercarriage systems and components for off-highway industry in North America, Europe, CIS, Latin America, Asia, and internationally.

EMCOR Group

Market Cap: US$36.1b

Provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom.

CSG

Market Cap: €17.6b

Manufactures and sells defence products in the Czech Republic, Europe, the United States, and the Asia Pacific.

AtkinsRéalis Group

Market Cap: CA$13.9b

Provides professional services and project management, and capital investment services in the United Kingdom, Canada, the United States, Saudi Arabia, and internationally.

Windey Energy Technology Group

Market Cap: CN¥10.1b

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

Contemporary Amperex Technology

Market Cap: CN¥1.8t

Engages in the research, development, production, and sale of electric vehicle and energy storage system batteries in China and internationally.

Zhuzhou CRRC Times Electric

Market Cap: HK$67.1b

Engages in the provision of propulsion and control systems in Mainland China and internationally.

Dajin Heavy IndustryLtd

Market Cap: CN¥29.4b

Manufactures and sells wind and photovoltaic power generation equipment in China and internationally.

Xi'an Sinofuse Electric

Market Cap: CN¥11.4b

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

SNT Energy

Market Cap: ₩518.7b

Operates in the machinery industry.

Beijing New Building Materials

Market Cap: CN¥33.1b

Manufactures and sells building materials in China.

DEUTZ

Market Cap: €1.5b

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.

INDUS Holding

Market Cap: €807.9m

A private equity firm specializing in growth capital mergers and acquisitions and corporate spin-offs.

XJ Electric

Market Cap: CN¥24.1b

Provides energy and power and technology equipment in China and internationally.

Middleby

Market Cap: US$6.1b

Operates in the foodservice industry worldwide.

Zehnder Group

Market Cap: CHF 756.6m

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

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.

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩26.1t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

CS Wind

Market Cap: ₩1.6t

Manufactures and sells wind towers and offshore wind substructures in Europe, North America, and Asia.

XCMG Construction Machinery

Market Cap: CN¥102.2b

Engages in the manufacturing and sale of construction machinery in China.

J. Kumar Infraprojects

Market Cap: ₹36.7b

Engages in the construction business in India.

Konecranes

Market Cap: €6.5b

Manufactures, sells, and services material handling products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

China Yuchai International

Market Cap: US$1.7b

Manufactures, assembles, and sells diesel and natural gas engines for trucks, buses, pickups, construction and agricultural equipment, and marine and power generation applications.