The $4.9 billion dollar deal that was announced July, 29, 2007 reached completion on Nov. 30 with Doosan Infracore acquiring Bobcat, Utility Equipment and Attachments from Ingersoll Rand Company. The three entities will be called Bobcat, Doosan Infracore Portable Power and DII Attachments. They will be under the operation of U.S.-based subsidiary Doosan Infracore International.
"With the completion of this transaction, Doosan is extremely well-positioned to become a true global leader in the construction equipment sector," says Yongmaan Park, Vice-Chairman of Doosan Infracore. "These three businesses each have superior operations with high quality products that will enhance Doosan’s overall product portfolio by adding compact construction equipment to our existing medium and large-scale construction equipment product lines."
The transaction gives Doosan Infracore over 3,500 dealers and 20 manufacturing plants in the U.S., Europe and China. There expected sales will be around $7.5 billion.
David Rowles, CEO of Doosan Infracore International, says, "We will focus on growing these businesses by utilizing the great capabilities and talents of our combined organizations to deliver superior value to all of our stakeholders."