Doosan Infracore enters Hyundai fold

The sale and closing of Doosan Infracore to Hyundai Heavy Industries Holdings Co. (HHIH) became official on August 19, according to a news release from the Suwanee, Georgia, office of Doosan Infracore.

Doosan Infracore will become a subsidiary of the newly created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE) as “two independent construction equipment companies under HHIH,” according to Doosan Infracore.

HG will act as the intermediary company of HHIH Group’s construction equipment businesses with the intention of allowing both business units to “combine as a global top player, putting us much closer to achieving the goal of becoming a global top five player.”

The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation, according to Hyundai. “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,” adds the firm.

States Doosan Infrastructure, “Independently, the two companies will grow together, complement each other, even 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.”

Doosan Infracore North America LLC markets the Doosan brand of products that includes crawler excavators, wheeled excavators, mini excavators, wheel loaders, articulated dump trucks, material handlers, log loaders and attachments via more than 160 equipment dealer locations in North America.

Hyundai Construction Equipment, which has a North American office in Norcross, Georgia, makes some of the same products plus has a forklift truck line.