Doosan Group

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Doosan Group
Type Public (traded on the Korea Stock Exchange)
Founded 1896
Founder Park Seung-jik
Headquarters Flag of South Korea Seoul, South Korea
Key people Yong Kon Park: Honorary Chairman,
YS Park: Chairman, Doosan Heavy Industries & Construction,
YH Park: Chairman, Doosan Construction & Engineering,
Yongmaan Park: Chairman, Doosan Infracore,
Jeong won Park: Vice Chairman, Doosan Corporation
Industry Conglomerate
Revenue ▲ $19.8 billion (2007)
Net income ▲ $1.75 billion (2007)
Employees 35,000
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.

Contents

[edit] History

The Doosan Group, with a history spanning over 112 years, is the oldest and one of the largest conglomerates in Korea. When Doosan was founded in 1896, it was the first modernized local store 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. Since 1896, Doosan has continued to grow and develop into a multinational business empire with diversified businesses across the globe. For more than 100 years, Doosan has contributed to Korea’s industrial growth, with particular emphasis in the consumer goods, industrial production, 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. As a result, Doosan has developed an optimal business portfolio in the Infrastructure Support Business industry, which includes industrial infrastructure, construction, machinery, equipment, and key industry development.

In 2006, Doosan proceeded to acquire a number of global companies that either possessed proprietary technologies or were capable of creating synergies with its existing subsidiary companies, including the boiler engineering company Mitsui Babcock UK (renamed as Doosan Babcock) and Kvaerner IMGB, the largest casting and forging company in Romania. In 2007, Doosan acquired a leading construction machinery company, Bobcat Company 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.

Doosan currently has 21 subsidiary companies in Korea and 112 overseas branch corporations in 33 countries. With a total of over 35,000 employees (20,000 in Korea and 15,000 overseas), in addition to a worldwide network of over 3,700 dealers, Doosan continues to implement a truly diversified global management strategy.

These dynamic changes have led to an improvement in Doosan’s annual financial performance, with revenues increasing from US $2.3 billion in 2000 to US $ 19.8 billion in 2007 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. Today, the Doosan Group has become one of the top ten conglomerates in Korea.

In the near future, Doosan plans to increase global overseas investments to US $1. 6 billion to continue its global business expansion and take on a leading role in the global market. Doosan will continue to make multilateral efforts in human resources development for global marketing and strengthen its global business network with the aim of setting new standards in the global market.

[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 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
    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 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 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:

- Liquor: Soju (Cheoum Cheoreom), Cheongju, Korean traditional liquor, wine and whisky manufacturing, Liquor Export

- Techpack: Packaging materials manufacturing

- Publishing: Dictionaries, Encyclopedia CD , Diverse printed products, Printing business

- 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

[edit] Recently Acquired Companies

  • Bobcat, Utility Equipment, and Attachments from Ingersoll-Rand in 2007.: 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.
  • IMGB (currently, Doosan IMGB) in 2006.
  • Doosan Babcock Energy (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.
  • American Engineering Services Inc. (currently, Doosan Hydro Technology Inc.) in 2005.

[edit] Highlights of Achievement

14 Doosan Products were selected as Korea’s Top Export Products by Ministry of Knowledge Economy

  • Doosan Heavy Industries and Construction

1. Sea Water Desalination
2. Crankshaft for Large Engine
3. Heat Recovery Steam Generator
4. Work Roll for Cold Rolling Mill
5. Mold Steel
6. Hydro Turbine Casting
7. Stern Frame Casting

  • Doosan Infracore

8. CNC Turning
9. Excavator
10. Fork Lift Truck
11. Ultra High-Speed Machining Center

  • Doosan Mecatec

12. STN-LCD

  • Doosan Engine

13. Marine Diesel Engine (over 6000 BHP)

  • Doosan Corporation

14. Copper Clad Phenolic Laminated Sheet

[edit] See also

[edit] References

[edit] External links

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


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