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Doosan Group

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Type	Public (traded on the Korea Stock Exchange)
Industry	Conglomerate
Founded	1896
Founder(s)	Park Seung-jik
Headquarters	Seoul,[1] South Korea
Key people	Yong Kon Park: Honorary Chairman, YS Park: Chairman, Doosan Heavy Industries & Construction, Y.H. Park: Chairman of the board, Doosan Corporation, Yongmaan Park: Chairman, Doosan Corporation,
Revenue	US$ 21.3 billion (2010)
Net income	US$ 1.6 billion (2010)
Employees	38,000
Subsidiaries	Doosan Corporation, Doosan Heavy Industries & Construction, Doosan Infracore, Doosan Engineering & Construction etc.
Website	http://www.doosan.com

Doosan Group is a South Korean conglomerate quoted on the Korea Stock Exchange. Doosan has been placed 471st in the Fortune 2009. It has been included in the Forbes Global 2000 companies from 2007. It had recently acquired SKODA power thus making it a full swing in power plant global competitors. Doosan was ranked 4th among the “World’s Best 40 Companies 2009” list, released in the latest issue of BusinessWeek, the U.S. economics magazine in October 2009. Fortune Global 500^[2]

History[link]

The Doosan Group, founded in 1896.^[3] The company began as the Park Seung Jik Store in 1896 in Baeogai (now Jongno 4-ga, Seoul). Since then, Doosan has developed into a multinational, diversified business empire, with particular emphasis on consumer goods, manufacturing and the trading and construction sectors.

Doosan has developed a new global growth strategy by acquiring several major companies over the last 10 years including Doosan Heavy Industries & Construction (formerly Korea Heavy Industries and Construction, a heavy industry company specializing in power and desalination plants) in 2001, Koryeo Industrial Development in 2004 and Doosan Infracore (formerly Daewoo Heavy Industries & Machinery, a company specializing in construction machinery) in 2005.

In 2006, Doosan acquired a number of global companies, including the boiler engineering company Mitsui Babcock UK (renamed Doosan Babcock) and Kvaerner IMGB, the largest casting and forging company in Romania. In 2007, Doosan acquired a leading construction machinery company, Bobcat USA, the world’s largest supplier of small construction equipment. Post acquisition of Bobcat USA into Doosan Infracore, one of the Doosan Group’s subsidiary companies specializing in medium and large construction machinery, the Doosan Group became the world’s seventh largest supplier of construction machinery.^[3] Doosan currently has 25 subsidiary companies in Korea and 86 overseas branch corporations in 35 countries. It has over 38,000 employees (20,000 in Korea and 18,000 overseas) and a worldwide network of over 1,400 dealer network.^[3]

Key Business Areas[link]

Doosan’s core businesses are based on ISB (Infrastructure Support Business). Doosan’s Infrastructure Support Businesses are made up of six subsidiaries: Doosan Corporation, Doosan Heavy Industries & Construction, Doosan Infracore, Doosan Engineering & Construction and Doosan Engine. These subsidiaries provide people with electrical power, desalinated drinking water, construction equipment, advanced machinery, defense supplies, houses, highways and bridges, chemical processing equipment and industrial engines.

Doosan now has core technologies for boilers, turbines and generators(BTG) - the three key components of modern fossil-fuel power plants. This now positions the company in the same league as GE of the US, Siemens of Germany and Alstom of France.^[4] According to the FT(The Financial Times, the UK-based business paper) report of Sep 29 2010, through a series of big acquisitions, Doosan Heavy has become the fourth-largest power-plant equipment maker in the world, behind General Electric of the US, Germany’s Siemens and ABB, the Swiss-Swedish engineering group.^[5]

Compiled by UK-based KHL Limited and published in the magazine, International Construction, the new up-to-date tabulation gives 2010 turnover figures for the world’s top 50 construction equipment manufacturers and shows growth in sales at DICE(Doosan Infracore Construction Equipment, the global alliance of construction brands that includes Doosan, Bobcat and Doosan Moxy) has taken the company into 6th place in 2010.^[6]

Nuclear and other power equipment[link]

Doosan has shipped the equipment composed of control element drive mechanisms (CEDMs) and replacement reactor vessel heads to the Palo Verde Nuclear Generating Station power plant in Tonopah, Arizona, which has a production capacity of 1,400 MW of electricity. It has sold nuclear power plant equipment to the largest nuclear energy generating facility in the United States. A reactor vessel head is used to maintain the pressure resistance of a coolant, while a CEDM is a device used to control the degree of a nuclear reaction.^[7] The new contract for Doosan, worth some $195 million, closely follows an earlier contract from Westinghouse to supply major equipment, such as steam generators and reactor vessels, for two AP1000s units to be constructed at Georgia Power's Vogtle nuclear power station near Augusta, Georgia. Subject to approvals, the two units are slated to enter service alongside Vogtle's two existing reactors in 2016 and 2017.

• Chinese market targeted

Doosan announced at the end of May 2008 that it had signed a memorandum of understanding (MoU) with China National Nuclear Corp (CNNC) on cooperation on new nuclear power projects in China. Among the projects commissioned by CNNC in China, Doosan supplied the steam generators for both Qinshan Phase-3 units (Qinshan-4 and -5), the reactor vessels for both Qinshan Phase-2 units (Qinshan-2 and -3), as well as equipment for the two AP1000 units at Sanmen and two at Haiyang^[8]

Subsidiaries[link]

• Doosan Corporation Doosan Corporation underwent a painful restructuring and converted its organizational system into a future-oriented one consisting of 4 business operations.

Doosan Corporation divisions include:

- Electro-Materials: Copper clad laminate and OLED manufacturing

- Mottrol: hydraulic machinary manufacturing

- Glonet: Import & Export Services, Import & Sales of Home Appliances, Chemical Import & Sales, Food Sales, Distribution and Dining Facilities / Trading Division

- Information & Communication: Solution Service, Data Center, ASP

• Doosan Heavy Industries & Construction Established in 1962, Doosan Heavy Industries & Construction has led the development in the nuclear and thermal power plant, desalination plant, casting and forging and construction arenas in North America, Asia, Europe and the Middle East with a total of $4.1 billion in revenue in 2007. Doosan has built over 400 nuclear, thermal and combines cycle power plants. And also, Doosan is one of the few companies in the world that has proprietary technologies for all major three desalination types: Multi Stage Flash (MSF), Multi Effect Distillation (MED) and Reverse Osmosis (RO). As part of the effort to grow as a global business, Doosan acquired the water treatment operations of American Engineering Services Inc., a Romanian heavy machines producer to secure a production base in Europe and also, a leading boiler manufacturer, Mitsui Babcock leveraging over 100 years of experience and the proprietary technology. Moreover, Doosan has established multiple Desalination R&D Centers in Dubai, UAE and in Tampa, U.S., Doosan Babcock E&S of India as an engineering centre in New Delhi and Doosan Babcock R&D Centre in Renfrew, Scotland. As a global contractor in Engineering, Procurement and Construction (EPC), Doosan is continuously developing its expertise around the world. Doosan is currently building Sipat thermal power plant project which will light the homes of 1 billion people in India and the world’s largest desalination plant in Shuaibah with a daily desalination capacity of 880,000 tons in Saudi Arabia. Doosan’s global business goal is to achieve $1.7 billion in 2015, $3 billion in 2030 with 10% of operating income.

Doosan material handler machine removes the wing of a destroyed aircraft at the end of runway 32 in Dover Air Force Base, Del, USA., Jan. 17, 2007.

• Doosan Infracore is a South Korean company, the former Daewoo Heavy Industries & Machinery. Doosan acquired Daewoo Heavy Industries & Machinery and renamed as Doosan Infracore in April 2005. Along with local manufacturing firms for excavators, construction systems, Doosan Infracore also has a worldwide dealer network of more than 900 dealers and agencies in the U.S., UK, Germany, China, India, Japan and Brazil.

Doosan Infracore brands[link]

Doosan Infracore has been established a holding company in China and has significantly expanded its Chinese operations. Doosan Infracore recently acquired Bobcat and the Attachments and Utilities business unites of Ingersoll-Rand. Doosan Infracore divisions include Construction Equipment, Machine Tools, Forklifts and Engines & Materials.

Bobcat[link]

Bobcat Company is a manufacturer of farm and construction equipment, part of Doosan Group. The company sells skid steer loaders, compact excavators, compact utility vehicles, compact tractors and other small hydraulic equipment under the Bobcat brand name. It is one of the few major manufacturing companies operating in North Dakota.

Ingersoll-Rand[link]

The Ingersoll Rand brand has been in the forefront of compressor technology, design and manufacturing since the early 1900s. Ingersoll-Rand Company was started over 100 years ago with an emphasis on drilling products for construction and mining. Ingersoll Rand has led the industry with breakthrough technology that has shaped and defined the world with its legacy products: air compressors, generators, and lighting systems.

Ingersoll-Rand compressors Typ 7/41 .

Doosan Moxy[link]

Moxy Engineering is a Norwegian manufacturer of articulated haulers for off-road use in the earth moving and construction industries. Doosan Infracore's Construction Equipment Business Group acquired 100% of the company from Thomson Group and changed the name as Doosan Moxy AS.

Montabert[link]

Montabert was founded in 1921 by Joannes Montabert as Montabert S.A as a manufacturer of pneumatic equipment. Montabert is based in the Lyon area, France and is the undisputed worldwide leader for the design, production and distribution of hydraulic and pneumatic demolition and drilling equipment for construction and civil works as well as the mining and quarry industry.

Geith[link]

Geith was founded over 50 years ago in Slane, Ireland. They offer a full range of products for machines from 1 ton to over 80 ton in weight for a large variety of applications and duty requirements.

Moxy hauler in Cincinnati, USA.

A Bobcat skid steer is used by U.S. Navy Seabees, assigned to Naval Mobile Construction Battalion Two Four (NMCB-24), to lift bags of sand to a side portion of the roof.

• Doosan Engine
  Main article: Doosan Engine
  As an integrated diesel engine manufacturer, Doosan Engine is specialized in diesel engines for large vessels, as well the construction of internal combustion power plants that use diesel engines. Doosan Engine has the second largest global market share with an annual production capacity of 9 million bhp. With 20 years of experience, Doosan Engine recorded an annual order backlog of more than $ 1 billion in the last three consecutive years.
• Doosan Engineering & Construction Architecture, Civil Engineering and Plant Works
• Doosan DST Formerly the Defence Division of Doosan Infracore, it is engaged in the production of IFVs, anti-air/guided weapons (the K30 Biho and K-SAM Pegasus) and precision equipment, including inertial navigation systems and NBC agents detectors. It was split from the parent company in November 2008 and is now a wholly owned subsidiary of Doosan Infracore.^[9]
• Doosan Industrial Vehicle Doosan Industrial Vehicle became the first Korean business engaged in the manufacturing of forklifts in 1968. Since then, the Company has focused on enhancing environmental friendliness and technological aptitude, as well as operator’s comfort and convenience when using its products
• Doosan Capital Integrated Credit Financing Services
• SRS Korea Restaurant Business: KFC, Burger King and Food Culture
• Oricom Advertising Agency : Pioneer of International Client Service in Korea

• Doosan Bears [1] Professional Baseball Team

• DFMS (Doosan Facility & Motors Service)
• Neoplux Venture capital, corporate restructuring & Consulting
• Doosan Cuvex Ladena Golf Club, Ladena Condominium
• Doosan Tower Corporation Property lease and service, Fashion shopping mall
• Doosan Feed & Livestock Corporation Animal feed business (Baekdoo feed)
• Rexcon

Worldwide presence[link]

• U.S.(4,200); Bobcat - also includes factories in Wujiang, China, Dobris, Czech, Pontchateau, France and Slane, Ireland, These businesses employ approximately 5,700 people worldwide
• UK; Doosan Babcock (December 2007) 4,560 employees, (December 2008) 5,414 employees
• Romania (762); (Doosan IMGB S.A.) Soseaua Berceni nr 104, Sector 4, Bucharest
• Belgium (500); Frameries, Belgium Doosan Infracore
• Poland (425); Doosan Babcock Energy Polska ul. Podmiejska 7 44-207 Rybnik Poland
• Norway (120); Doosan Moxy AS. Varhol - 6440 Elnesvågen
• Czech (1,000); Skoda Power
• Vietnam (1,700); Doosan Vina Heavy Industries
• China (2,700); Doosan Infracore

Recently Acquired Companies[link]

• American Engineering Services Inc.(currently, Doosan Hydro Technology Inc.) in 2005.^[10]

• IMGB (currently, Doosan IMGB) in 2006^[11]

Doosan IMGB, the largest casting and forging company in Romania.

• Doosan Babcock Energy in 2006^[12]

(formerly Mitsui Babcock) was purchased in 2006 from Mitsui Engineering & Shipbuilding of Japan. As one of the four companies in the world with its own proprietary technology in the field of boiler engineering, Doosan Babcock Energy was established in the U.K. by US-based Babcock & Wilcox in 1891. Currently, Doosan Babcock is headquartered in Crawley in the UK and has an R&D centre and production base in Renfrew, Scotland. It also has subsidiary companies in Germany, Poland, USA and China, which serve as power generation service centers. Doosan Babcock has supplied boilers to over 30 countries including the U.S. and China as well as Europe and has a license agreement with Harbin Boiler, the largest boiler maker in China and producer of 26,000MW of boiler to date. Doosan Babcock has been expanding its nuclear power plant business in the U.K. since the acquisition of the nuclear power business unit of Rolls Royce in 2002.

• Bobcat Company in 2007^[13]

Bobcat,Utility Equipment and Attachments from Ingersoll-Rand As the world’s largest compact construction equipment business, Bobcat, Utility Equipment and Attachments business have an established network of over 2,700 dealers in the U.S. and Europe and operates 16 manufacturing plants in six countries around the world. In 2006 the three businesses generated approximately US$2.6 billion in sales and US$370 million in operating profits and currently maintain the highest world market share in their respective business sectors. The "Bobcat" name is well recognized worldwide as a leading construction equipment brand. Doosan Infracore's primary objective of the acquisition is to enhance its overall product portfolio by adding compact construction equipment to its existing medium and large-scale construction equipment product lines and to help expand and strengthen Doosan Infracore's global manufacturing and sales networks. The acquisition also provides Doosan Infracore with world-class technologies and brand names. Upon completion of this transaction, Doosan Infracore will have a combined network of over 3,700 dealers worldwide and 20 manufacturing plants in countries such as the U.S., China, Belgium, France and the Czech Republic. As a result, Doosan Infracore will be well positioned to become a market leader in the U.S., Europe and China. Pro forma for the transaction, Doosan Infracore's sales will be approximately US$7.4 billion, which will improve the Company's worldwide ranking from 19th to 7th in the construction equipment sector.

• Moxy Engineering in 2008.^[14]

Moxy Engineering is a Norwegian manufacturer of articulated haulers for off-road use in the earth moving and construction industries. Moxy was founded by the industrialist Birger Hatlebakk, who had previously founded the Glamox factory in Molde.

• Advanced Technology Lubben (ATL) in 2008.^[15]

ATL is located in Lubben, outside Berlin(Germany) and has the original technology to support the production of material handling equipment for warehouses and airports.

• Skoda Power in 2009^[16]

SKODA POWER is a manufacturer and supplier of SKODA design steam turbines from 5 MW to1,200 MW, machine halls and of customer services for fossil and nuclear power plants, combined cycles, co-generation and incineration plants.

See also[link]

• Doosan Corporation
• List of South Korean companies
• Economy of South Korea

References[link]

• 2007 Doosan Annual Brochure
• International Herald Tribune:Doosan buys Daewoo for $1.7 billion
• 한국일보:두산중공업, 美법인 설립
• International Herald Tribune:Doosan buys Daewoo for $1.7 billion
• Forbes:SKorea's Doosan Heavy buys Mitsui Babcock for 20 bln yen
• Forbes:Doosan buy of Mitsui Babcock cleared by EU
• 한국일보:두산그룹‥中•유럽에 지주사…글로벌化 발판
• International Herald Tribune:South Korea's Doosan Infracore rise 6 percent after Bobcat buy
• Fox News:Ingersoll-Rand Selling Bobcat, Two Other Units for $4.9B
• Diler Doosan Infracore, in Irkutsk. Russia.

External links[link]

• Bobcat Company
• Doosan Group Korean
• Doosan Group English Web Site
• Doosan Heavy Industry English Web Site
• Doosan Infracore English Web Site
• Doosan Engineering & Construction
• Doosan Babcock Energy Ltd
• Doosan Babcock Energy Germany
• Doosan IMGB
• Doosan Moxy
• A tribute to Daewoo / Doosan Track Type Excavators, Solar 220LC-V
• Doosan Importeur en dealers BeNeLux
• Doosan Importeur en dealers Nederland en Belgie

Coordinates: 37°34′08″N 127°00′36″E / 37.568783°N 127.009933°E / 37.568783; 127.009933