Doosan Infracore complete Bobcat acquisition
DOOSAN Infracore have completed their acquisition of the Bobcat, Utility Equipment and Attachments businesses from Ingersoll Rand Co. Ltd.
The three entities will operate as individual businesses of Doosan Infracore International, a US-based subsidiary of Doosan Infracore, and will be known as Bobcat, Doosan Infracore Portable Power (formerly Ingersoll Rand Utility Equipment), and DII Attachments (formerly Ingersoll Rand Attachments).
Yongmaan Park, vice-chairman of Doosan Infracore, said: ‘With the completion of this transaction, Doosan are 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.
‘With operations in China, Belgium, France and the Czech Republic, and across the US, the addition of these businesses will expand and strengthen our global manufacturing and sales networks, allowing us to reach more customers with a broader product portfolio than ever before,’ he said.
As announced on 29 July 2007, Doosan Infracore have paid $4.9 billion (£2.4 billion) for the Bobcat, Utility Equipment and Attachments businesses, making the deal the largest overseas acquisition in Korea’s history.
With completion of the transaction, Doosan Infracore have become one of the top 10 global manufacturers of construction and utility equipment and related attachments in terms of pro forma sales, which will be approximately $7.5 billion (£3.6 billion).
