Doosan has formed a new affiliate company, tentatively named, Doosan Industrial Vehicle Co., Ltd. The new business will oversee all of Doosan’s global lift truck activities.
The existing lift truck management teams, dealership and sales networks currently structured within Doosan Infracore (DI), will be absorbed by the new company July 1, 2011.
The move effectively separates the lift truck business from the construction, engines and machine tools operations. Removing some of DI’s non-lift-truck related cost burdens and allowing the business greater independence is expected to contribute to the company’s bottom line.
“As our business has matured, we believe that the challenges we have faced have also changed,” said Kun H Lee, managing director of the new company. “We believe that by setting up a company focused solely on materials handling, we will be able to respond quicker.”
The new company will turnover approximately US$ 600 million in sales and will concentrate on developing lift truck and warehouse equipment products.