Global Capital Goods Healthy potentially undervalued

Metlen Energy & Metals

Market Cap: €5.9b

Operates as an industrial and energy company with focus on the metals and energy sectors worldwide.

Andritz

Market Cap: €6.3b

Engages in the provision of industrial machinery, equipment, and services in Europe, North America, South America, China, Asia, Africa, Australia, and internationally.

NN

Market Cap: US$90.4m

Designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States, China, Brazil, Mexico, Germany, Poland, and internationally.

Tupy

Market Cap: R$1.6b

Engages in the development, manufacture, and sale of cast and compacted graphite iron structural components in North America, South and Central Americas, Europe, Asia, Africa, Oceania, and internationally.

Illinois Tool Works

Market Cap: US$71.1b

Provides industrial products and equipment in North America, Europe, the Middle East, Africa, the Asia Pacific, and South America.

AB Volvo

Market Cap: SEK 535.9b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania.

Evergreen Aviation Technologies

Market Cap: NT$56.9b

Provides aircraft maintenance services to airline partners in Taiwan and internationally.

MISUMI Group

Market Cap: JP¥614.3b

Engages in the factory automation, die components, and VONA businesses in Japan, China, rest of Asia, the United States, Europe, and internationally.

Anhui HeliLtd

Market Cap: CN¥18.9b

Engages in the manufacture and sale of industrial vehicles in the People’s Republic of China.

Changjiang & Jinggong Steel Building (Group)

Market Cap: CN¥8.6b

Designs, manufactures, constructs, and installs steel structures in China and internationally.

Komatsu

Market Cap: JP¥4.6t

Manufactures and sells construction, mining, and utility equipment in Japan, the Americas, Europe, China, rest of Asia, Oceania, the Middle East, Africa, and CIS countries.

Zhejiang Huayou Cobalt

Market Cap: CN¥112.3b

Engages in the research, development, manufacture, and sale of lithium battery materials and diamond material products in China and internationally.

Shanghai Hanbell Precise Machinery

Market Cap: CN¥13.0b

Shanghai Hanbell Precise Machinery Co., Ltd.

LX International

Market Cap: ₩1.1t

Engages in the trading business in Korea and internationally.

China National Chemical Engineering

Market Cap: CN¥48.1b

China National Chemical Engineering Co., Ltd.

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩30.3t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

NORMA Group

Market Cap: €428.2m

Manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

Komax Holding

Market Cap: CHF 320.7m

Engages in the automated wire processing business in Europe, North America, South America, the Asia/Pacific, and Africa.

J. Kumar Infraprojects

Market Cap: ₹48.2b

Engages in the construction business in India.

Generac Holdings

Market Cap: US$9.2b

Designs, manufactures, and distributes energy technology products and solution worldwide.

Kennametal

Market Cap: US$1.7b

Engages in development and application of tungsten carbides, ceramics, and hard materials and solutions worldwide.

Middleby

Market Cap: US$6.2b

Designs, manufactures, markets, distributes, and services commercial restaurant, food processing, and residential kitchen equipment worldwide.

CNH Industrial

Market Cap: US$12.9b

An equipment and services company, engages in the design, production, marketing, sale, and financing of agricultural and construction equipment in North America, Europe, the Middle East, Africa, South America, and the Asia Pacific.

ChargePoint Holdings

Market Cap: US$224.4m

Provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe.

Cummins

Market Cap: US$59.1b

Offers various power solutions worldwide.

Lockheed Martin

Market Cap: US$112.2b

An aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide.

Sinotruk (Hong Kong)

Market Cap: HK$77.9b

An investment holding company, engages in the research, development, manufacture, and sale of heavy-duty trucks (HDT), medium-heavy duty trucks, light duty trucks (LDT), buses, and related parts and components in Mainland China and internationally.

Haitian International Holdings

Market Cap: HK$33.9b

An investment holding company, engages in the manufacture, distribution, and sale of plastic injection molding machines and related products in Mainland China, Hong Kong, and internationally.

Zhejiang Dingli MachineryLtd

Market Cap: CN¥26.8b

Engages in the manufacture of aerial work platforms in China and internationally.

SFA Engineering

Market Cap: ₩689.5b

Manufactures and sells display equipment, logistics systems, secondary battery, semiconductor equipment, material handling, and special business equipment in South Korea and internationally.

China Communications Services

Market Cap: HK$32.8b

Together with its subsidiaries provides telecommunications support services worldwide.

TBEA

Market Cap: CN¥121.0b

Provides power transmission, renewable energy, new materials, and energy solutions in China and internationally.

WashTec

Market Cap: €558.0m

Provides solutions for car wash in Germany, Europe, and North America.

Obrascón Huarte Lain

Market Cap: €586.2m

Engages in the construction and concession businesses in the United States, Canada, Mexico, Chile, Peru, Colombia, Spain, Central and Eastern Europe, Northern Europe, and internationally.

Dürr

Market Cap: €1.4b

Operates as a mechanical and plant engineering company worldwide.

Kalmar Oyj

Market Cap: €2.3b

Provides heavy material handling equipment and services for ports, terminals, distribution centres, manufacturing, and heavy logistics industries in the Americas, Europe, Asia, the Middle East, and Africa.