The sale of Doosan Infracore to Hyundai Heavy Industries Holdings Co (HHIH) has officially closed, as of 19 Aug 2021. Together the two brands are getting closer to achieving their goal of becoming a global top five player.
Doosan Infracore is now a subsidiary of the newly created Hyundai Genuine (HG) Group alongside Hyundai Construction Equipment (HCE) as two independent construction equipment companies under 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 maximise the company’s efforts and focus on the construction equipment industry.
The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation, said Doosan Infracore in its statement. The company will be working diligently to commercialise 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,” explained Doosan Infracore.
“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.”