Moving forward with new business

Doosan has formed a new affiliate company - Doosan Industrial Vehicle Co - which will oversee all Doosan's global forklift activities. Doosan Corporation will take a majority stake in the new company, with Standard Chartered Private Equity the preferred financial investor. The existing forklift management teams, dealership and sales networks currently structured within Doosan Infracore, will be absorbed by the new company from 1st July, 2011.

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