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Posts Tagged ‘acquisition’

Doosan Acquires Stake In Genesis

Ginger depotDoosan has taken its first steps into direct sales by acquiring a majority stake in one of its top performing dealers, Genesis Forklift Trucks Ltd.

The move signals the Korean company’s intention to build on recent investments in both expanding its product range and establishing its UK parts distribution centre.

Genesis is already a leading light in the Doosan network, regularly challenging for Doosan UK’s top dealer status over the past five years.

Founded in 2001, the Huntingdon-based Genesis business is valued in excess of £2m, the founding members will be staying on as directors, DIUK’s general manager, Tim Waples will take over as Chairman assisting with the next stage in the business’s development.

Doosan Acquire Moxy

On August 18, 2009 Doosan Infracore reported that DIEU, its subsidiary in Europe, signed a contract for taking over Moxy Engineering AS, a Norwegian business specializing in the production of ADTs, for €55 million (= 85.3 billion won) in connection with its bid to make a foray into the large-sized mining equipment market amid the expansion of the world heavy construction equipment market.

Moxy, located in Molde along Norway’s west coast, owns the source technology for 23 ~ 46 ton-class ADTs, and has networks for 61 dealers in Europe and North America, in addition to local sales corporations and R&D centers in the U.S. and the U.K.

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