Doosan Completes Acquisition of Bobcat and Additional Divisions
Doosan Infracore last week said it has completed the acquisition of the Bobcat, Utility Equipment and Attachments businesses from Ingersoll Rand Co. Doosan said the three entities will operate as individual businesses of Doosan Infracore International, a U.S.-based subsidiary of Doosan Infracore.
Bobcat will continue to be known as Bobcat. The former Ingersoll Rand Utility Equipment will be known as Doosan Infracore Portable Power, and IR Attachments will be known as DII Attachments.
“With the completion of this transaction, Doosan is extremely well-positioned to become a true global leader in the construction equipment sector,” said Yongmaan Park, vice chairman of Doosan Infracore. “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. With operations in China, Belgium, France and the Czech Republic and across the United States, the addition of these businesses will expand and strengthen our global manufacturing and sales networks.”
David Rowles, CEO of Doosan Infracore International added the company will focus on growing the newly acquired businesses that Doosan acquired July 29 for $4.9 billion, the largest overseas acquisition in Korea’s history.
The acquisition makes Doosan Infracore one of the top 10 global manufacturers of construction and utility equipment and related attachments in terms of pro forma sales, which will be about $7.5 billion. The company will now have a combined network of more than 3,500 dealers worldwide and 20 manufacturing plants in the U.S., Europe and China.
