Hyundai Construction’s Acquisition of Doosan Infracore Finalized
The acquisition of Doosan Infracore by Hyundai Heavy Industries Holdings Co. has been finalized.
Doosan Infracore will become a subsidiary of the newly created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE) as two independent construction equipment companies under HHIH. HG will act as the intermediary company of HHIH Group’s construction equipment businesses and will be leading both DI and HCE to maximize the company’s efforts and focus on the construction equipment industry. Together the two brands will come much closer to achieving the goal of becoming a global "top 5" player, it said.
The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation. Doosan Infracore will be working diligently to commercialize Concept-X and develop cutting-edge products such as electric excavators, battery packs, hybrid fuel cells and other next-generation products. By focusing on each company’s areas of strength, HG will be able to advance the development of these types of products to gain a competitive edge in the global market.
Independently, the two companies will grow together, complement each other, even compete in good faith in all areas, including technology, production, purchasing, sales, and quality. “This will enable our business to expand and associate with other companies operated by the whole HHI group,” the company said in a statement.
Doosan Infracore North America, LLC, headquartered in Suwanee, Ga., markets the Doosan brand of products that includes crawler excavators, wheel excavators, mini excavators, wheel loaders, articulated dump trucks, material handlers, log loaders and attachments.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.