Upon closing on its sale today, Doosan Infracore becomes a subsidiary of the newly created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE) as two independent construction equipment companies under Hyundai Heavy Industries Holdings (HHIH).
HG will act as the intermediary company of HHIH Group’s construction equipment businesses and will be leading both Doosan and HCE to “maximize the company’s efforts and focus on the construction equipment industry,” according to a Doosan press release.
HG is to manage overlapping investments and invest in areas such as future technologies and innovation in order “to gain a competitive edge in the global market,” according to the release.
“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.”
Source: Doosan Infracore North America
