New forklift business for Doosan
1 min read
Doosan has spun off its forklift business from the construction, marine engine and machine tool operations, and has formed a new company to oversee global forklift activities. The new $600m turnover business will be called Doosan Industrial Vehicle Company; it will have Doosan Corporation as its majority shareholder, along with Standard Chartered Private Equity.
Existing forklift management teams, dealership and sales networks will be taken over by the new company from 1 July 2011.
Tim Waples (pictured), Doosan's UK director and general manager, said: "We are maturing as a forklift business, particularly in the UK. Our recent investments, in our dealer network, parts centre, IT systems and dealer support facilities are all part of a wider commitment to our growing customer base. As a serious player in this market, our focus has become even stronger and our UK operation should take great pride in their contribution to this development."
Removing some of the company'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 being used for product research and development.
Executive managing director of the new company, Kun H Lee, said the move would also allow the business to react more quickly to market requirements. "While we feel our approach is one of the most flexible and responsive around, we believe that by setting up a company focussed solely on materials handling, we will be able to respond even quicker."
