Doosan sells forklift unit

News Story
- 5 May 2011 ( #512 ) - Incheon, Korea, Republic Of
1 min read
A Bobcat skid steer loader
A Bobcat skid steer loader
Doosan Infracore has agreed to sell its forklift unit to an affiliate and Standard Chartered Plc (STAN) for KRW245 billion (USD230 million) to repay funds it borrowed to buy Bobcat.

According to Bloomberg, the transaction will be completed by the third quarter. A Doosan Corp unit will have a 51% stake in the venture buying the business, with STAN holding the rest.

Doosan Infracore has already raised KRW625 billion (USD581.9 million) from selling assets including a 20% stake in its Chinese forklift unit, as it tries to repay the USD3.9 billion it borrowed from banks for the Bobcat acquisition in 2007, the report said.

Doosan Infracore acquired Bobcat from Ingersoll-Rand Co in 2007 for USD4.9 billion. The deal was said to be the largest overseas acquisition by a South Korean company.

Forkliftaction.com News contacted Doosan Infracore for comment but did not receive a response by press time.
Adaptalift picks up Hyster NZ
Adaptalift picks up Hyster NZ 6 Feb 2025 - Auckland, New Zealand - 1 min read
Hangcha secures two large Canadian deals
Hangcha secures two large Canadian deals 6 Feb 2025 - Vaudreuil-Dorion, QC, Canada - 1 min read
Reports Mitsubishi is selling Logisnext
Reports Mitsubishi is selling Logisnext 12 Dec 2024 - Tokyo, Japan - 1 min read
Previously about:
Hyundai and Doosan unite – and compete News Story - 2 Dec 2021 - Tessenderlo, Belgium - 1 min read
Doosan’s giant engine order News Story - 22 Apr 2021 - Seoul, Korea, Republic Of - <1 min read
Forklift manufacturers lead Yellow Table Top 50 News Story - 19 Apr 2012 - Wadhurst, United Kingdom - 2 min read
Do you have materials handling news? Submit your news here

Showcased in the Virtual Expo

“I really enjoy your newsletter and share the articles with all my training team for industry currency. I also print and display specific articles on forklift safety and accidents on our notice board for all the learners who attend our training courses to read...”

Gavin Trim - CEO, High Risk Work License Assessor, Mechanical Handling Equipment Specialist - Nationwide Training

Thanks Gavin for sharing your experience with Forkliftaction

Words of support …

Thanks to advertising with Forkliftaction, GemOne has experienced a significant enhancement in our online presence. Working with Forkliftaction has enabled us to boost engagement with our targeted audience, resulting in an increase in information requests and downloads of valuable materials from our website. Forkliftaction has consistently delivered outstanding results, helping us to effectively connect with the right audience.

Justine Lootens, CEO - GemOne

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

“I really enjoy your newsletter and share the articles with all my training team for industry currency. I also print and display specific articles on forklift safety and accidents on our notice board for all the learners who attend our training courses to read...”

Gavin Trim - CEO, High Risk Work License Assessor, Mechanical Handling Equipment Specialist - Nationwide Training

Thanks Gavin for sharing your experience with Forkliftaction

Inside The News
It’s been a big week of news with Jungheinrich’s financial reports for Q1 released at the same time it launched its new Stategy2030+, its strategic framework for the next five years (see story)... Continue reading

PREMIUM business

BSL New Energy Technology Co., Ltd
BSLBATT - practical expertise and excellent design in the industrial lithium-ion battery market.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Find the right machine for your business with F. Uchiyama, exporter and wholesaler of used forklifts and construction machinery. With 100 years of experience in the trade, you can leave the export procedures to us!
FOR SALE:
1999 Hitachi HX99B telescopic boom
2017 Unicarriers FD80-2 counterbalance forklift
2006 Aichi RX07B scissor lift 

Find more machines here | Contact us with enquiries