Doosan Bobcat adds forklifts subsidiary
By Andy BrownJuly 06, 2021
Doosan Bobcat has announced the acquisition of Doosan Industrial Vehicles (DIV) for $661 million. DIV makes material-handling equipment including forklifts and warehouse equipment.
DIV, which is based in Georgia, also offers “downstream” services including forklift rental, used equipment sales and vehicle maintenance services.
Leading the division as CEO is Taeil Kim, who has been the head of DIV BG since 2020.
DIV is expanding its business based on new technologies such as a real-time data collection, utilization and automation system equipped with Lin-Q, a telematics system developed by the company.
According to DIV, the company is expecting annual sales in 2021 to surpass $882 million for the first time since the business was founded, as sales volumes surge due to increased demand in North America and elsewhere.
Following DIV’s incorporation as one of its subsidiaries, Doosan Bobcat said that it anticipates deeper cost reduction and stronger dealer networks, coupled with the expansion of its product portfolio.