Lift trucks: Doosan establishes new forklift business

Doosan has announced the formation of a new affiliate company, tentatively named Doosan Industrial Vehicle Co., Ltd.

By ·

Doosan has announced the formation of a new affiliate company, tentatively named Doosan Industrial Vehicle Co., Ltd.

The move effectively separates the forklift business from the construction, engines and machine tools operations and comes as the company looks to focus closely on recent successes in forklifts, including an increased market share, a growing distributor network and the expansion of the product range.

The existing forklift management teams, dealership and sales networks currently structured within Doosan Infracore (DI), will be absorbed by the new company on July 1, 2011.

Removing some of DI’s non-forklift related cost burdens and allowing the business greater independence is also expected to have a beneficial effect on the company’s bottom line, with profits put directly back into product research and development.

Managing director of the new company, Kun H Lee, said the move would also allow the business to react quickly to market requirements.

“As our business has matured, we believe that the challenges we have faced have
also changed,” Lee said. “And whilst we feel our approach is one of the most flexible and responsive around, we believe that by setting up a company focused solely on materials handling, we will be able to respond even quicker.”

With the new ownership structure, Doosan expects to provide more targeted investment into the new company, as well as increase efficiency and develop a stronger sense of purpose.

“We have a very successful business model that has made great gains in recent years,” said Lee. “Our dealer network and sales staff are second to none and we are very proud of the achievements we’ve made so far. This move is a testament to their hard work in growing the operation from a relatively minor business group within the Doosan Group to a global success.”

The new company will turnover approximately $600 million in sales and will concentrate on developing forklift and warehouse equipment products which not only offer great value and excellent productivity, but are also simple to operate and maintain.

More than 100 Doosan models are available from 1.3 to 5.0 tons, electric models and 1.5 to 18.0 tons for IC models.

Doosan Infracore, headquartered in South Korea, was ranked No. 12 on Modern’s annual Top 20 lift truck suppliers list, with $418 million in revenue in 2009.

Top 20 lift truck suppliers
The worldwide industrial lift truck industry spent the better part of 2009 in a rut. Sales were down 39%, but it appears the worst may be over


Subscribe to Modern Materials Handling Magazine!

Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Article Topics

Forklifts · Lift Trucks · · All Topics
Latest Whitepaper
Your Guide to Voice for the Warehouse
Is voice a good fit for my operation? How would voice work in my warehouse? With the help of the Vitech Guide to Voice, you can find all the answers to your voice questions in one place.
Download Today!
From the October 2017 Modern Materials Handling Issue
An early adopter, Rochester Drug Cooperative is using robotic piece-picking technology to complement picking of slow-moving items. System report for Rochester Drug Cooperative, Robotic picking and inventory management, Innovative distribution center robotics solutions , IAM Robotics case study
This Month in Modern Materials Handling: Methodical steps into the future
The Warehousing Big Picture: Business as Unusual
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
The State of the DC Voice Market
A lot has changed in the last 10 years, especially in voice technology. This webinar will cover the state of the voice market, review two leading voice solutions and help you gain a better understanding of the options and capabilities available today.
Register Today!
EDITORS' PICKS
Rochester Drug Cooperative: Robots ready for work
It’s still early stages, but Rochester Drug Cooperative is proving that mobile robotic piece...
Manufacturing Day: 2,716 events from Hawaii to Alaska to Puerto Rico
Events to be scheduled throughout the month, so the remaining 249,185 manufacturing firms in the...

System Report: Pouch sorter powers Stage’s fulfillment needs
How a hometown department store chain transformed its e-fulfillment processes with pouch sortation...
Cubing and Weighing Equipment: Measure Up
The use of cubing and weighing equipment is growing beyond dimensional weight applications.