Hyundai buys Doosan, but will grow both equipment brands

By Jenny LescohierAugust 24, 2021

Doosan Infracore is now officially a subsidiary of the newly created Hyundai Genuine (HG) group, alongside Hyundai Construction Equipment (HCE)

Doosan Infracore - maker of earthmoving equipment and attachments in North America - is now officially a subsidiary of the newly created Hyundai Genuine (HG) group, alongside Hyundai Construction Equipment (HCE).

The two entities will act as independent construction equipment companies under Hyundai Heavy Industries Holdings Co. (HHIH). HG will act as the intermediary company of HHIH Group’s construction equipment businesses and will be leading both Doosan Infracore and HCE to maximize the company’s efforts and focus on the construction equipment industry.

“Together the two brands will combine as a global top player, putting us much closer to achieving the goal of becoming a global top 5 player,” a statement from Doosan Infracore said.

“The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation,” the statement continued. “Doosan Infracore will be working diligently to commercialize Concept-X and develop cutting-edge products such as electric excavators, battery packs, hybrid fuel cells and other next-generation products. By focusing on each company’s areas of strength, HG will be able to advance the development of these types of products to gain a competitive edge in the global market.”

Finally, Doosan Infracore reported the two companies will continue to compete in good faith in all areas, including technology, production, purchasing, sales and quality. “This will enable our business to expand and associate with other companies operated by the whole HHI group,” the company said.

MORE ARTICLES FROM CONEXPO-CON/AGG 365 NEWS
Doosan now makes dozers, and mini excavators too
Doosan Infracore has previewed a slew of new products that will hit the construction market in 2022, including not only its first dozer but also a new line of mini excavators and more
One giant leap: Komatsu develops construction equipment for use on the moon
Komatsu will create and operate a hydraulic excavator in cyberspace, using digital twin technology, and compare its movements with actual equipment on Earth 
Expert Q&A: What the newly passed infrastructure bill really means to contractors
Kate Fox Wood, government relations at AEM, gives straight answers to the questions we’re all asking about the Infrastructure Investment and Jobs Act (IIJA)