Doosan completes Bobcat acquisition
Thursday, 6 December 2007
SEOUL, South Korea; WEST FARGO, ND and CHARLOTTE, NC, United States
A Bobcat skid steer loader.
Doosan Infracore will reach more customers with a broader product portfolio now that its USD4.9 billion acquisition of Ingersoll Rand Company's Bobcat, utility equipment and attachments businesses is finalised.
With the addition of Ingersoll Rand's operations in China, Belgium, France and the Czech Republic, Doosan Infracore will have a combined distribution and manufacturing network exceeding 3,500 dealers and consisting of 20 manufacturing plants worldwide (Forkliftaction.com News #321
Doosan Infracore vice chairman Yongmaan Park says the company is now "extremely well-positioned" to become a "true global leader" in the construction equipment sector.
"These three businesses each have superior operations with high-quality products that will enhance Doosan's overall product portfolio by adding compact construction equipment to our existing medium and large-scale construction equipment product lines."
Doosan Infracore expects to be one of the world's top 10 manufacturers of construction and utility equipment and associated attachments in terms of pro forma sales, which will be about USD7.5 billion annually.
Bobcat and Ingersoll Rand's utility equipment and attachments businesses will operate as individual businesses of Doosan Infracore's US subsidiary, Doosan Infracore International.
Bobcat, which makes telehandlers, loaders, excavators, utility products, light construction equipment and attachments, will still be known as Bobcat. Ingersoll Rand Utility Equipment will be known as Doosan Infracore Portable Power. Ingersoll Rand Attachments will be called DII Attachments.
previously reported Doosan Group will establish a new company, Doosan Techno Holding Company, to own and control Bobcat's intellectual property rights
(Forkliftaction.com News #336