Doosan Infracore has acquired German warehouse equipment manufacturer Advanced Technology Lubben (ATL) for EUR2.5 million (USD3.67 million). The move is part of Doosan’s bid to move into the European large-size warehouse market.
Yoon Ki-sup, managing director of Doosan Infracore, told Forkliftaction News that even though ATL’s sales are not large, it has a credible product, a good reputation and a reliable brand.
"By combining ATL’s warehouse equipment with our existing forklift business, we will lay the foundations to achieve a top-five position in the global forklift industry.
"We now have the capacity to aggressively enter the diversified materials handling market with more products to meet customers’ demands," he says.
Doosan Infracore hopes to use the ATL acquisition to establish its brand and reputation in Germany.
The company expects that working with the network of existing and newly acquired dealers and its expanded product line, it will develop as a single supplier and full-service contractor in the region.
The company aims to increase ATL’s annual sales over the next 12 months by tapping into the growth of the European market and expanding its networks. ATL turned over EUR4.6 million (USD6.75 million) last year and Doosan plans to increase that to EUR13 million (USD19.07 million).
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