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Doosan Group

Type	Public (traded on the Korea Stock Exchange)
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, YH Park: Chairman of the board, Doosan Corporation, Yongmaan Park: Chairman, Doosan Corporation,
Industry	Conglomerate
Revenue	▲ $ 18,062 (In millions of US$) Won/US Dollar as of the year end of December 31, 2008: 932/1 [2](2008)
Net income	▲ $ 1,091 [2](In millions of US$) 2008
Employees	38,000[2]
Subsidiaries	Doosan Corporation, Doosan Heavy Industries & Construction, Doosan Infracore, Doosan Construction & Engineering etc.
Website	http://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^[3]

[edit] History

The Doosan Group, founded in 1896,^[4] is the oldest^{[citation needed]} and one of the largest^{[citation needed]} conglomerates in Korea. The company began as the Park Seung Jik Store in 1896 in Baeogai(now Jongno 4-ga, Seoul), Korea’s first modern store.^{[citation needed]} 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 seven years including Doosan Heavy Industries and 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^{[citation needed]} (renamed Doosan Babcock) and Kvaerner IMGB,^{[citation needed]} the largest casting and forging company in Romania.^{[citation needed]} In 2007, Doosan acquired a leading construction machinery company, Bobcat USA,^{[citation needed]} the world’s largest supplier^{[citation needed]} 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.^{[citation needed]}

Doosan currently has 21 subsidiary companies in Korea and 112 overseas branch corporations in 33 countries.^{[citation needed]} It has over 35,000 employees^{[citation needed]} (20,000 in Korea and 15,000 overseas) and a worldwide network of over 3,700 dealers.^{[citation needed]}

These acquisitions improved in Doosan’s annual financial performance, with revenues increasing from US $2.3 billion in 2000 to US $19.8 billion in 2007^{[citation needed]} for an annual average growth rate of 34%. In addition, Doosan posted a 25% annual growth in operating profits, rising from US $191.5 million in 2000 to US $1.75 billion in 2007.^{[citation needed]} In 2009, the Doosan Group is one of the top ten conglomerates in Korea.^{[citation needed]}

In the near future,^[when?] Doosan plans to increase global overseas investments to US $1. 6 billion to continue its global business expansion.^{[citation needed]}

[edit] Key Business Areas

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 Construction & Engineering, Doosan Mecatec, 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.

[edit] Subsidiaries

• Doosan Corporation Doosan Corporation underwent a painful restructuring and converted its organizational system into a future-oriented one consisting of 5 business groups, 5 profit center-concept business units and one center.

Doosan Corporation divisions include:

- Fashion: POLO, ESPRIT

- Electro-Materials: Copper-clad laminate 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 E&S of India as an engineering center in New Deli, and Doosan Babcock R&D Center 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

• 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
  File:DoosanEngine.JPG

  Photo of an Inside View of Doosan Engine's Assembly Plant
  manufacturing firms for excavators, forklift trucks, and construction systems, Doosan Infracore also has a worldwide dealer network comprised of more than 900 dealers and agencies in the U.S., UK, Germany, China, India, Japan, and Brazil. Doosan Infracore has 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, Engines & Materials, and Defense Products (Doosan DST).
• Doosan Mecatec With over 30 years of experience, Doosan Mecatec manufactures and engineers globally renowned Chemical Process Equipment (CPE), which holds the world’s top market share in this sector. Doosan Mecatec is also highly recognized for its superior technologies, and certified with the ASME STAMP and ISO 9001.
• 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 Construction & Engineering 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.^[5]
• 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
• Samhwa Crown & Closure Bottle Caps Manufacturing
• Doosan Motors Corporation Main Honda Dealer
• 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

[edit] Worldwide presence

• U.S.(4,200); Bobcat - also includes factories in Wujiang, China, Dobris, Czech 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

[edit] Recently Acquired Companies

• American Engineering Services Inc.(currently, Doosan Hydro Technology Inc.) in 2005.^[6]

• IMGB (currently, Doosan IMGB) in 2006 ^[7]

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

Bobcat Excavator

• Doosan Babcock Energy in 2006 ^[8]

(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 center 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 ^[9]

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 MT 40B

• Moxy Engineering in 2008.^[10]

Moxy Engineering is a Norwegian manufacturer of articulated dump trucks 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..^[11]

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 ^[12]

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.

[edit] See also

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

[edit] References

• 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

[edit] External links

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

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