HD Construction Equipment (KRX:267270), formerly HD Hyundai Construction Equipment, signed an agreement with Manitou for a mutual sales partnership in compact construction equipment, according to a Tuesday press release.

Under the deal, HD Construction Equipment will source compact equipment from Manitou for global sales, while Manitou will add HD Construction Equipment's compact solutions to its Manitou and Gehl product lines.

The partnership aims to expand the companies' compact equipment portfolios and enhance production, product quality and cost competitiveness, it said.