December 6, 2007
Doosan Infracore completes acquisition of Bobcat and related companies
INGERSOLL RAND
Doosan of Korea expects to hit US$7.5 billion in annual sales with its purchase of Bobcat from Ingersoll Rand.
SEOUL, SOUTH KOREA
Doosan Infracore says it has completed the acquisition of the Bobcat utility equipment and attachments businesses from Ingersoll Rand Company, Ltd.
The US$4.9 billion deal is the largest overseas acquisition in Korea’s corporate history, Doosan said in a new release announcing the transaction.
Doosan said that three entities will operate as individual businesses of Doosan Infracore International, a U.S.-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).
“With the completion of this transaction, Doosan is extremely well-positioned to become a true global leader in the construction equipment sector,” said Yongmaan Park, vice-chairman of Doosan Infracore.
Doosan Infracore will become one of the top ten global manufacturers of construction and utility equipment and related attachments in terms of pro forma sales, which will be approximately US$7.5 billion.
The company will now have a combined network of over 3,500 dealers worldwide and 20 manufacturing plants in the U.S., Europe and China.
DCN News Services
| MOST POPULAR STORIES |
- Steel hurdles for Aga Khan Museum build
- Benson Steel faces transport challenge on Toronto Yorkdale Mall construction project
- Toronto Construction Association presents ‘Best of the Best’ awards
- Bidding closes for Toronto 2015 Pan Am games venues
- Steel key for CF-5 fighter jet monument at Toronto defence facility
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 316 projects with a total value of $1,890,889,993 that Reed Construction Data Building Reports reported on Thursday.
$65,000,000 Toronto ON Negotiated
RETIREMENT RESIDENCE, COMMUNITY CENTRE
$45,500,000 Toronto ON Negotiated
$40,000,000 Brampton ON Prebid
| CURRENT STORIES |
- Steel truss system helps reduce construction cost of Toronto apartment building
- Ontario College of Trades will drive up infrastructure costs: Conservative leader Tim Hudak
- Procurement needs to be fair, open and transparent
- Losing bidder bridles at Pan Am Games park selection, Equine Canada “thrilled”
- Armstrong extended at Ontario College of Trades
- CVTech secures Hydro Quebec construction, maintenance work
- Toronto council votes in favour of light rail transit
- Ottawa City Council approves affordable housing capital projects
- Pre-cast concrete segment falls into river after gantry crane collapses
- Alberta throne speech hints at development plan
- Union claims construction oversight needed at defence department
- Site prep in North Vancouver
- Legislation limiting strikes ruled unconstitutional
- World Plumbing Day garners support from Canadian senator
- PHOTO GALLERY: Merit Alberta open house
- Seeing the sustainable forest for the trees
- Pump Station Upgrades
- Labour federation opposes pipeline
- Site for new correctional facility selected
- Edmonton roofer dies
- Regulators approve oilsands facility expansion
- Highway 3 upgrades
- New chairman named for Alberta Construction Association
| ALEX’S ECONOMICS BLOG |
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- Home starts and job levels diverge in Canada and the U.S. (February 8, 2012)
- Canada’s labour market flat in January but U.S. on a roll (February 3, 2012)
- Canada’s leading indicator series continued to charge ahead in December (January 23, 2012)
- More
