SEOUL, Sept. 10 (Korea Bizwire) — South Korea’s top construction equipment maker Doosan Infracore Co. said Friday that its shareholders approved a scheme to reduce its capital stock to improve its financial health. Under the approval made in a preliminary shareholders meeting, the company plans to reduce its capital stock by 80 percent to some [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. (HHIH), the world’s largest shipbuilding group, said Friday that it has completed the process to acquire South Korea’s top construction equipment maker Doosan Infracore Co. HHIH formed a consortium with KDB Investment Co., a private equity firm wholly owned by the state-run Korea Development [...]
SEOUL, May 10 (Korea Bizwire) — Construction equipment maker Doosan Infracore said Monday that it has rolled out a prototype of battery packs for construction equipment and agriculture machinery. The battery packs comprised of battery modules, battery management systems and cooling systems will enable Doosan Infracore to release 1.7-ton electric excavators by early next year, [...]
SEOUL, March 28 (Korea Bizwire) — The South Korean construction equipment maker Doosan Infracore Co. said Sunday it has launched its 100-ton excavators, the biggest in its lineup in the global market, and won orders for them from Mongolia and Chile. Doosan Infracore bagged an order for one 100-ton excavator from a Chilean company, with [...]
SEOUL, March 12 (Korea Bizwire) — South Korean excavator manufacturers are enjoying brisk sales in China and emerging markets this year on China’s pump-priming policy to cope with the coronavirus pandemic and increased prices of raw materials. Doosan Infracore Co. sold 1,754 units in China in February, rising more than three times from a year [...]
SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s power plant builder Doosan Heavy Industries & Construction Co. said Friday that its board of directors has decided to sell the company’s 35 percent stake in Doosan Infracore Co. for 850 billion won (US$757 million) to global shipbuilding holding company Hyundai Heavy Industries Holdings Co. (HHIH). Cash-strapped [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s top construction equipment maker Doosan Infracore Co. said Monday that the number of its construction equipment sold here rose 18 percent last year from a year ago on increased demand. “Despite the coronavirus pandemic, demand for high-end excavators increased last year here on the back of enhanced [...]
SEOUL, Jan. 14 (Korea Bizwire) — Top construction equipment maker Doosan Infracore Co. on Thursday gained the upper hand in a lawsuit brought against it by investors in its Chinese unit Doosan Infracore China Co. (DICC) as the Supreme Court sent the case back to a lower court for retrial. The highest court ordered the [...]
SEOUL, Jan. 11 (Korea Bizwire) — South Korea’s top construction equipment maker Doosan Infracore Co. said Monday that its excavator sales in China rose 22 percent last year from a year earlier on the back of infrastructure investment expansion by the Chinese government. Doosan Infracore sold 18,686 excavators in the country last year, compared with [...]
SEOUL, Dec. 15 (Korea Bizwire) — Sales of excavators by Doosan Infracore Co. in China are expected to reach the highest in a decade this year on strong demand in the world’s No. 2 economy, industry data showed Tuesday. According to the data by the China Construction Machinery Association, Doosan Infracore sold 1,692 units of [...]