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ENDATADoosan Infracore secured orders for 75 medium-to-large excavators from Saudi Arabian customers: 25 units (20 DX220LCA and 5 DX480LCA) from a construction company, and 50 DX225LCA units from a consortium of two construction firms.
Hyundai Heavy Industries Holdings signed a definitive agreement to acquire a 34.97% stake in Doosan Infracore, a construction equipment maker, for 850 billion won ($757 million) from Doosan Heavy Industries & Construction. The deal is expected to close around Q3 2021.
Doosan Group selected Hyundai Heavy Industries Holdings as the preferred bidder to acquire a 36.07% controlling stake in Doosan Infracore. The deal is estimated at 700-800 billion won ($645-738 million) and expected to close by year-end 2020.
Jacobs Vehicle Systems will supply compression release engine brakes to Doosan Infracore for its DX12 engine model, for the South Korean market. The brakes are manufactured at Jacobs' Suzhou facility and supplied to Doosan's Incheon plant.
Doosan Heavy Industries & Construction is considering separating its subsidiaries Doosan Infracore and Doosan Bobcat as part of a self-salvage plan to address debt and weak cash flow.
Doosan Infracore has launched the DX12 electronic engine, meeting Euro6 standards, and delivered the first Tata Daewoo Prima truck equipped with it to a customer in South Korea. The engine will be used in 25 truck models.
Doosan Infracore received an order from French company BEAULOC for 80 excavators in three models (5t, 8t, 30t). The equipment will be supplied from August to the end of 2019 for use in road construction and building sites across France.
Doosan Infracore signed a contract to supply 36 excavators (six DX800, twenty DX520, ten DX380) to Neimenggu MengXin Group for its coal mines in Inner Mongolia.
Doosan Infracore signed a contract to supply 36 excavators to Chinese mining firm Neimenggu MengXin Group. The excavators include six 80-ton, twenty 52-ton and ten 38-ton units, to be used in Inner Mongolia.
Tianjin Lovol Heavy Industry Group Co., Ltd. and Doosan Infracore Co., Ltd. have filed for approval of a new joint venture. The public comment period runs from February 8 to February 17, 2018.