It is our mission to be a growth leader in the manufacturing of compressor technology. Our success stems from our well-honed focus on the commercial vehicle market where we concentrate our resources, innovate with our customers and work together to create real value solutions. Our aggressive investments in product development and facilities in the US, China, Europe and South America have positioned us for record growth over the next 3 – 5 years. By accelerating growth through innovation and R & D investments, we will extend our range of product offerings and implement key channel strategies to open up new markets and new application opportunities. Our advancements will be driven by fundamental and significant emphasis on new, value-based product developments in our swash, wobble, reciprocating and variable product lines.
Innovations in new products that capitalize on our expertise in engineering and manufacturing compressor technology will strengthen our portfolio—with the addition of a new air brake compressor line. It is also a priority to enter new geographic markets such as the Middle East, India, Korea and Japan as well as expand growth in our core markets including US, China, Europe, Argentina and Brazil. Competition in the marketplace has grown, but we see our value proposition holding strong with quality and performance delivered in a low-cost leader model where we are customer-minded and focused on supply chain management and speed-to-market delivery demands. Although the Heavy Duty Trucking market is stagnant, we see trends in global market growth in Transport Refrigeration, Bus and Construction applications.
We are always assessing market outlook to ensure our business objectives align with future growth opportunities. Our focus on being customer responsive allows us to build programs directly around individual customer needs; thus, creating a demand-driven, application business model in which we are flexible, agile and ready to respond to market demands and disruptions. New ideas, innovations, efficiencies and speed-to-market is how we will best embrace and execute our growth strategies in the coming years.