Hyundai Group seals Doosan Infracore deal

By Murray PollokFebruary 08, 2021

Media outlets in Korea are reporting that Hyundai Heavy Industries is to acquire a 34.97% share in Doosan Infracore from Doosan Heavy Industries & Construction for Korean Won 850 billion ($758 million).

Doosan Infracore is the heavy construction division of the Seoul-headquartered Doosan Group. The transaction does not include Doosan Bobcat, which accounted for 57% of Infracore’s 2019 revenues.

Construction machines from Doosan Infracore Construction machines from Doosan Infracore

The deal will mean that Hyundai will own Hyundai Construction Equipment as well as the Doosan Infracore construction equipment business.

Regulatory authorities in South Korea and other countries including China will be asked to approve the acquisition, with plans to complete the acquisition by the third quarter of 2021.

More to follow.

MORE ARTICLES FROM CONEXPO-CON/AGG 365 NEWS
New Cat 350 excavator consumes 13% less fuel
The model also has three power mode options – Smart, Power, and Eco – to match the excavator to the job for lower fuel consumption
Housing starts fall sharply in July
A fifth consecutive month of declining new housing construction comes with a warning of continued single-family slowdown, signs of multifamily growth and slowing materials inflation
VIDEO: Case Minotaur is a compact dozer with a loader’s tools
Here’s why the 18,600-pound Minotaur DL550 compact dozer loader – a new machine category shipping now to Case dealers – can replace small dozers and outwork compact track loaders