MIRA
INFORM REPORT
|
Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DOOSAN INFRACORE CO LTD |
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Registered Office : |
7-11, Hwasu 1-dong, Dong-gu, Incheon |
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Country : |
Korea |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
23.10.2000 |
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Com. Reg. No.: |
121-81-10522 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Civil Engineering and Similar Machine Equipment |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
Basic
|
Company
Name |
DOOSAN INFRACORE CO., LTD. |
|
Registered Address |
7-11, Hwasu 1-dong, Dong-gu, Incheon,
Korea |
|
Zip Code |
401-804 |
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Tel |
+82-32-211-1114 |
|
Fax |
+82-32-211-1231 |
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E-mail |
infracore_master@doosan.com |
|
Website |
www.doosaninfracore.co.kr |
|
Trading Address- Seoul Office |
Doosan Tower 22th~26th FL. 18-12, Euljiro-6ga, Jung-gu, Seoul, Korea |
|
Tel |
+82-2-3398-8114 |
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Fax |
+82-2-3398-8117 |
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Changwon Factory1 |
601-3, Namsan-dong, Changwon,
Kyongsangnam-do, Korea |
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Tel |
+82-55-280-4114 |
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Fax |
+82-55-287-1140 |
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Changwon Factory1 |
24, Seongju-dong, Changwon, Kyongsangnam-do, Korea |
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Tel |
+82-55-280-6114 |
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Fax |
+82-55-280-6118 |
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Parts Center |
85-1, Palgok Ei-dong, Ansan, Kyunggi-do,
Korea |
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Tel |
+82-31-400-2114 |
|
Fax |
+82-31-400-2040 |
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Type |
Export/Import |
|
Industry |
Manufacture of Civil Engineering and Similar Machine Equipment |
|
Main Business |
Wheel Loaders, Tower Cranes, Concrete Pump Trucks, Diesel Engines,
Machine Tools, Defense Products |
|
Established (mm/dd/yyyy) |
10/23/2000 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Forklifts(24101603) |
|
Sell |
Track excavators(22101526) |
|
Sell |
Tower cranes(24101623) |
|
Sell |
Crawler drills(20111604) |
|
Sell |
Earth moving machinery(22101500) |
|
Sell |
Antiaircraft missiles(46121502) |
|
Sell |
Paving equipment(22101600) |
|
Sell |
Diesel engines(26101504) |
|
Sell |
Skid steer loaders(22101529) |
|
Sell |
Defense and Law Enforcement and Security and
Safety Equipment and Supplies(46000000) |
|
Sell |
Lathes(23171606) |
|
Sell |
Hydraulic cylinders(27121602) |
|
Sell |
Hydraulic pumps(40151533) |
|
Sell |
Industrial trucks(24101500) |
|
Sell |
Engines(26101500) |
|
Buy |
Iron plate(30102203) |
|
Buy |
Bolts(31161600) |
|
Buy |
Grease(15121902) |
|
Buy |
Stainless steel plate(30102205) |
|
Buy |
Bearings(31171500) |
|
Buy |
Motors(26101600) |
|
Buy |
Pipe(40142100) |
|
Buy |
Nuts(31161700) |
CEO’s
|
Name |
Park Young-Maan |
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Address |
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Date of Birth |
02/05/1955 |
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Title |
Vice Chairman & CEO |
|
Sex |
Male |
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Nationality |
Korean |
Career
& Education
Jan. 1973 Graduated from kyunggi High School
Feb. 1978 Graduated from Seoul National
University with BA in Business Management
May.1982 Graduated from Boston University with
MBA
Sept 1982 Doosan Construction Co.
Jun. 1991 Executive Director of Doosan Foods BG
Dec.1994 Managing
Director of Doosan Beverages BG,Vice-Chief of Doosan Group Strategic Planning
center
Jul. 1995 Vice-President
of Dong-A Publishing BG
Dec.1995 Chief of Doosan Group Strategic
Planning center
May.1996 Vice President of Oriental Brewery Co.
Oct. 2000 Chairman
of Korean contingent fot Korea-Spain Economic Cooperation Committee (current
position)
Oct. 2001 Chief of Strategic Planning center and
administration center
Sept.2002 Professorship at Hanyang University
School of Management (current position)
2003 Professorship
at Ewha Women’s University School of Management (current position)
Jan. 2005 Vice-Chairman & CEO of Doosan Corp.
(current position)
Jan. 2005 Vice-Chairman & CEO of Doosan
Industrial Development (current position)
Jan. 2005 Vice-Chairman of Oricom Inc (current
position)
Jan. 2005 Vice-Chairman of Samwha Crown&
Closure (current position)
Jan. 2005 Vice-Chairman of Doosan Heavy
Industries (current position)
Jan. 2005 Vice-Chairman of Doosan Inforacore Co.
Awards
Mar. 2000 Silver Tower,Order of industrial Merit
Apr. 2003 Citizen’s Medal of Spain
Profiles
|
Capital |
840,786,920,000 KRW |
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Employees |
4,967 |
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Formation |
Listed Company (KOREA STOCK EXCHANGE:
042670) as of 02/2001 A Company of DOOSAN GROUP |
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Bank Details |
Korea Development Bank Address: 16-3, Youido-Dong, Youngdungpo-Gu,
Seoul 150-010 Korea Tel: 82-2-787-5000 Hana Bank-HQ Branch |
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Corporate Registered No. |
120111-0018128 |
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Business Registered No. |
121-81-10522 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History |
05-2005 Renamed to Doosan Infracore Co.,
Ltd. 11-2004 Awarded "1000 million dollars
Exports Trophy" 11-2003 Awarded "700 million dollars
Exports Trophy" 02-2003 DHI Yantai exceeded 10,000 units
in aggregate production of excavators 11-2002 Awarded "500 million dollars
Exports Trophy" 11-2001 Workout graduation 06-2001 DHI Yantai exceeded 5,000 units in
aggregate production of excavators 10-2000 Separated from Daewoo Heavy
Industries to become independent firm Before
Separation 10-2000 200,000 units in aggregate
production and shipment of forklifts Exceeded 10-1999 Transfers Aerospace Business
Division to Korea Aerospace Industries, Ltd. 08-1999 Workout(management improvement
activity) issued. 07-1999 Transferred from Train Business
Division to Korea Rolling Stock Corp. 12-1998 Won Prime Ministerial Award for
exemplary industrial cooperation with SMBs 05-1998 Developed Korean first large
aperture reflective lens for satellite camera use 07-1997 50,000 units in aggregate
production of excavators exceeded 07-1997 100,000 units in aggregate export
volume of forklifts exceeded 05-1994 Exported excavator technologies to
Malaysian firm Tingming 07-1993 An-San A/S Center completed 01-1992 Construction of plant to produce
hydraulic parts for excavators completed 11-1990 Euro-Daewoo S.A. founded in
Belgium (undertook CBM corp.) 11-1989 Construction of plant for FA
equipment in Changwon and Research Institute for National Defense Industry
completed 02-1987 Initiated Exportation of
excavators under original brand 'Solar' to Netherlands 08-1984 The second factory in Changwon
completed 05-1983 Concluded OEM contract with
Caterpillar corp. in U.S to supply forklifts 02-1981 Technical Research Institute for
Internal Combustion Engines founded 06-1980 Developed Korean first CNC lathe. 12-1978 Research Institute for Internal
Combustion Engines founded 10-1978 Initiated Exportation of construction
equipment (3 excavators and 3 forklifts to Sudan) 08-1977 Construction of a Machine tool
factory in Changwon completed 06-1973 Bu-Kok Rolling Stock Co. Ltd
acquired 08-1966 Listed in stock market 11-1964 Rolling stock business initiated 05-1963 Started with new name "Korean
Machinery Industries corp." as a public enterprise with 700 million won
paid-in capital 12-1961 Trade union launched 05-1951 Designated as a public enterprise 1942 Construction of factories for metal
cast, cast steel, forging and rolling 06-1937 Chosun Machine Works founded |
The Subject Company
is a Korean producer of machinery. It offers products and services through
business areas including construction equipment, industrial vehicles, machine tools
and factory automation systems. Construction equipment includes excavators,
wheel loaders, tower cranes and concrete pump trucks. Industrial vehicles cover
84 models of lift trucks, including diesel engine/gasoline engine electric lift
trucks, four models of skid-steer loaders and one model telescopic handler.
Machine tools and factory automation systems encompass turning centers,
machining centers, boring machines, electric discharge machines, aspheric
turning centers and automation systems. As of June 19, 2007, the Company
invested US$200,000 into Doosan Infracore Do Brasil Servicos de Suporte
Comercial Ltda and As of June 28, 2007, the Company also invested KRW
11,355,000 into Doosan Infracore India Private Limited, resulting in the latter
becoming wholly owned subsidiaries of Doosan Infracore.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
|
Director |
Mr. |
Park Yong-Sung |
Male |
Korean |
1940.09.11 |
|
Vice Chairman & CEO |
Mr. |
Park Young-Maan |
Male |
Korean |
1955.02.05 |
|
President
& CEO |
Mr. |
Choe Sung-Chul |
Male |
Korean |
1948.05.22 |
|
President
& CSO |
Mr. |
Kim Yong-Sung |
Male |
Korean |
1962.01.02 |
|
President |
Mr. |
Shin Oh-Sik |
Male |
Korean |
1952.02.25 |
|
Director |
Mr. |
Cho Kyu-Sang |
Male |
Korean |
1954.01.17 |
|
Director |
Mr. |
Yang Hee-Sun |
Male |
Korean |
1954.07.12 |
|
Outside Director |
Mr. |
Lim In-Taik |
Male |
Korean |
1940.06.08 |
|
Outside Director |
Mr. |
Ka Jae-Hwan |
Male |
Korean |
1940.12.08 |
|
Outside Director |
Mr. |
Kim Chul-Soo |
Male |
Korean |
1941.01.26 |
|
Outside Director |
Mr. |
Ahn Kang-Min |
Male |
Korean |
1941.05.26 |
|
Outside Director |
Mr. |
Shin Myung-Kyun |
Male |
Korean |
1944.04.08 |
|
Outside Director |
Mr. |
Noh Hoon-Keon |
Male |
Korean |
1944.06.08 |
|
Outside Director |
Mr. |
Lee Hee-Soo |
Male |
Korean |
1945.06.09 |
|
Outside Director |
Mr. |
Shin Hee-Taik |
Male |
Korean |
1952.08.06 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
3,282,769,993,129 |
2,469,978,593,521 |
135,744,243,496 |
|
|
2005 |
2,815,255,982,612 |
2,465,146,467,288 |
135,575,945,101 |
|
2004 |
2,860,636,307,342 |
2,629,300,498,349 |
123,024,612,952 |
|
2003 |
2,314,055,733,840 |
2,530,076,117,219 |
164,250,569,319 |
Financial Description
Unit: KRW
|
Authorized
Capital |
2,000,000,000,000 |
|
Paid-Up
Capital |
840,786,920,000 |
|
Total Issues Shares |
168,157,384 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
01/01/2007~09/30/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
2,682,759,095,638 |
2,469,978,593,521 |
2,465,146,467,288 |
|
Current Assets |
1,420,677,481,058 |
1,245,104,313,325 |
1,251,880,585,569 |
|
-Quick Assets |
1,016,049,044,475 |
855,691,155,350 |
852,982,934,598 |
|
-Inventories |
404,628,436,583 |
389,413,157,975 |
398,897,650,971 |
|
Fixed Assets |
1,262,081,614,580 |
1,224,874,280,196 |
1,213,265,881,719 |
|
-Investment |
433,950,733,580 |
398,830,781,454 |
301,141,073,601 |
|
-Tangibles |
722,086,183,461 |
729,791,688,882 |
825,994,996,781 |
|
-Intangibles |
67,638,430,555 |
61,841,671,895 |
52,832,004,734 |
|
-Others |
38,406,266,984 |
34,410,137,965 |
33,297,806,603 |
|
Total Liabilities |
1,538,500,834,468 |
1,408,563,993,123 |
1,366,739,414,795 |
|
Current Liabilities |
1,162,664,695,456 |
1,138,070,988,902 |
983,308,270,529 |
|
Fixed Liabilities |
375,836,139,012 |
270,493,004,221 |
383,431,144,266 |
|
Capital Stock |
840,786,920,000 |
840,786,920,000 |
839,786,920,000 |
|
Capital Surplus |
- |
384,207,418 |
- |
|
Profit Surplus |
512,449,217,721 |
413,148,536,660 |
318,337,416,664 |
|
Capital Adjustment |
-208,977,876,551 |
-192,905,063,680 |
-59,717,284,171 |
|
Total Equity |
1,144,258,261,170 |
1,061,414,600,398 |
1,098,407,052,493 |
|
Liab. & Shareholder’s Equity |
2,682,759,095,638 |
2,469,978,593,521 |
2,465,146,467,288 |
|
Current
Liabilities |
1,162,664,695,456 |
1,138,070,988,902 |
983,308,270,529 |
|
Trade Payables |
453,951,810,587 |
421,654,223,912 |
271,219,526,837 |
|
Short-Term Borrowings |
142,397,916,728 |
122,482,002,798 |
168,882,668,799 |
|
Account Payables |
125,286,335,718 |
185,568,678,062 |
173,210,147,409 |
|
Advance Receipts |
144,478,175,079 |
159,654,148,362 |
214,919,805,297 |
|
Withholdings |
4,635,092,831 |
3,731,717,754 |
6,320,196,016 |
|
Accrued Expenses |
41,360,740,917 |
10,193,353,677 |
5,108,215,186 |
|
Accrued Income Tax |
73,911,155,462 |
25,587,803,147 |
14,320,475,156 |
|
Withhold Deposit Received |
8,002,218,060 |
9,611,631,833 |
9,985,911,457 |
|
Derivatives |
85,434,836,119 |
64,855,686,700 |
3,659,400,715 |
|
Current Portion of Long-Term Debts |
57,941,428,771 |
110,065,380,322 |
84,319,006,508 |
|
Provision for Sales Guarantee |
16,121,641,562 |
12,342,565,184 |
13,169,141,561 |
|
Other Current Liabilities |
9,569,207,018 |
12,687,933,838 |
23,675,639,499 |
|
Fixed
Liabilities |
375,836,139,012 |
270,493,004,221 |
383,431,144,266 |
|
Long-Term Borrowings |
38,370,103,288 |
44,390,327,371 |
306,260,200,694 |
|
Debentures |
220,000,000,000 |
120,000,000,000 |
- |
|
Long-Term Account Payables |
8,287,025,716 |
7,575,674,766 |
9,974,658,103 |
|
Provision for Severance & Retirement |
161,576,089,401 |
138,788,718,764 |
123,489,774,021 |
|
Provision for Construction Loss |
- |
168,973,159 |
893,335,316 |
|
Non-Current Deferred Income Tax Credit |
27,051,556,428 |
44,360,206,638 |
26,124,741,067 |
Income
Statement
|
|||
|
Unit : Korean Won |
01/01/2007~09/30/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
2,783,372,208,019 |
3,282,769,993,129 |
2,815,255,982,612 |
|
Cost of Sold Goods |
2,135,883,632,545 |
2,548,458,536,563 |
2,236,167,003,484 |
|
Gross Profit |
647,488,575,474 |
734,311,456,566 |
579,088,979,128 |
|
Selling & Admin. Expenses |
415,095,279,491 |
490,432,113,030 |
404,557,126,895 |
|
Operating Income |
232,393,295,983 |
243,879,343,536 |
174,531,852,233 |
|
Non-Operating Income |
152,565,997,146 |
129,088,329,743 |
125,565,501,821 |
|
Non-Operating expenses |
116,069,306,159 |
181,792,905,381 |
120,931,085,466 |
|
Ordinary Income |
268,889,986,970 |
191,174,767,898 |
179,166,268,588 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
268,889,986,970 |
191,174,767,898 |
179,166,268,588 |
|
Income Taxes Expenses |
75,249,026,201 |
55,430,524,402 |
43,590,323,487 |
|
Net Income |
193,640,960,769 |
135,744,243,496 |
135,575,945,101 |
Cash
Flows
|
|||
|
Unit : Korean Won |
01/01/2007~09/30/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
94,055,640,235 |
287,855,727,538 |
368,539,220,071 |
|
-Net Income |
193,640,960,769 |
135,744,243,496 |
135,575,945,101 |
|
-Exp.
without Cash Outflow |
124,574,277,305 |
211,146,860,026 |
133,458,484,015 |
|
-Revenue
without Cash Inflows |
(-)104,317,603,196 |
(-)62,605,738,782 |
(-)61,314,418,963 |
|
-Changes in
Asset/ & Liability |
(-)119,841,994,643 |
3,570,362,798 |
160,819,209,918 |
|
Cash Flows from
Investing |
(-)112,883,488,653 |
5,907,179,149 |
(-)212,602,383,858 |
|
-Cash Inflow
from Investing |
50,039,898,239 |
194,465,968,344 |
14,161,863,080 |
|
-Cash
Outflows for Investing |
(-)162,923,386,892 |
(-)188,558,789,195 |
(-)226,764,246,938 |
|
Cash Flows
from Financing |
4,776,542,863 |
(-)318,689,808,868 |
(-)301,076,841,658 |
|
-Cash
Inflows from Financing |
2,039,232,514,357 |
487,774,549,634 |
85,144,000,000 |
|
-Cash
Outflows from Financing |
(-)2,034,455,971,494 |
(-)806,464,358,502 |
(-)386,220,841,658 |
|
Increase/Decrease
in Cash |
(-)14,051,305,555 |
(-)24,926,902,181 |
(-)145,140,005,445 |
|
Cash at the
Beginning of Year |
43,701,544,021 |
68,628,446,202 |
213,768,451,647 |
|
Cash at the End of Year |
29,650,238,466 |
43,701,544,021 |
68,628,446,202 |
Products, Technologies, Services Description
|
Main
Products & Services |
Construction Equipment Machine Tools & F/A Engine & Materials Forklifts Defense Products Parts Center Cyber Purchasing |
||||||||||||||||||||||||||||
|
Production
Capacity (Unit:
Million KRW) |
|
Trade
Partners
|
Suppliers |
HANSUNG
ECONET CO., LTD. ADDRESS:
168, WONNAM-RI, EUMBONG-MYEON ASAN-SI CHUNGNAM-DO 336-864 KOREA TEL:
82-41-541-5733 FAX:
82-41-541-5738 INDUSTRY:
MANUFACTURE OF AGRICULTURAL AND FORESTRY MACHINERY JINSUNG
T.E.C ADDRESS:
538-5, SEGYO-DONG, PYEONGTAEK-SI, GYEONGGI-DO 450-818 KOREA TEL:
82-31-658-0100 FAX:
82-31-658-0106 INDUSTRY:
MANUFACTURE OF CIVIL ENGINEERING AND SIMILAR MACHINE EQUIPMENT NGVI, INC. ADDRESS:
300-14 CHANGCHON-RI NAMSAN-MYEON CHUNCHEON-SI GANGWON-DO 200-911 KOREA TEL:
82-33-260-3400 FAX: 82-33-261-9184 FINE A.T.C
CO., LTD. ADDRESS:
853-10, OE-DONG, CHANGWON-SI, GYEONGNAM-DO 641-020 KOREA TEL: 82-55-239-3500 FAX: 82-55-264-9615 INDUSTRY:
MANUFACTURE OF ALL OTHER SPECIAL PURPOSE MACHINERY, N.E.C. DONGYANG
MECHATRONICS CORP. ADDRESS:
616-4, NAMCHON-DONG, NAMDONG-GU, INCHON 405-846 KOREA TEL:
82-32-810-4100 FAX:
82-32-812-4200 INDUSTRY: MANUFACTURE
OF PARTS AND ACCESSORIES FOR MOTOR ENGINES |
|
Customers |
DEFENSE PROCUREMENT AGENCY ADDRESS: 15 YONGSAN-DONG 2-GA YONGSAN-GU SEOUL
140-841 KOREA TEL: 82-2-2079-6239
FAX: 82-2-773-7587 INDUSTRY:
WEAPON / MILITARY EQUIPMENT DAEWOO BUS TATA MOTOR KOMASTU |
|
Competitors |
VOLVO HYUNDAI
HEAVY INDUSTRIES WIA HWACHEON TONGIL SMEC CLARK DONG MYUNG
HEAVY INDUSTRIES |
Related
Parties (Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DOOSAN
CO.,LTD(110111-0013774) SRS KOREA CO.,
LTD.(110111-3139733) DOOSAN HEAVY
INDUSTRIES & CONSTRUCTION CO.,LTD(194211-0000943) DOOSAN
ENGINE CO., LTD(194211-0038423) DOOSAN
MECATEC., LTD.(110111-0126022) DOOSAN
CONSTRUCTION & ENGINEERING CO.,LTD.(110111-0194277) SAEJAE
DEVELOPMENT CO., LTD(110111-1074048) NEO TRANS
CO., LTD.(131111-0141801) SAMHWA CROWN
& CLOSURE CO.,LTD(134111-0003462) REXCON
CO.,LTD.(110111-3586273) ORICOM
INC(110111-0176986) DOOSANBEARS
INC(110111-0346919) NEOPLUX CO.,
LTD.(110111-1927841) N.SHAPER(110111-1943574) DOOSAN CAPITAL
CO.,LTD.(110111-1220336) GLOBAL
LOGISTICS CO., LTD.(110111-1235749) DOOSAN CUVEX
CO.,LTD(140111-0032570) DOOSAN
MOTORS CORP.(110111-3008293) DONG HYUN
ENGINEERING CO.,LTD.(110111-0508329) |
|
Overseas Office |
DOOSAN INFRACORE
XINJIANG MACHINERY CO., LTD. NO. 178,
HETANBEI ROAD, WURUMUQI, XINJIAN, CHINA TEL :
+86-991-469-7217 FAX : +86-991-469-8641
DAIJIAN(TIANJIN)
MECHANICAL CONSTRUCTION CO., LTD. NO. 87,
GONGXING ROAD, TANGGU, TIANJIN, CHINA TEL :
+86-222-521-0540 FAX : +86-222-521-0714
DOOSAN
INFRACORE CHINA CO., LTD. NO. 28,
WUZHISHAN ROAD, ECO & TECH. DEVELOPMENT ZONE, YANTAI, SHANDONG, CHINA TEL :
+86-535-698-2000 FAX : +86-535-638-2004 DOOSAN
INFRACORE MACHINE TOOLS YANTAL CO., LTD. #1, DAYU
ROAD 1, ECO & TECH. DEVELOPMENT ZONE, YANTAI, SHANDONG, CHINA TEL :
+86-535-693-5000 FAX : +86-535-693-5619 DOOSAN
INFRACORE LIAONING MACINERY CO., LTD. NO. 32,
DONGLING ROAD, DONGLING DISTRICT, SHENYANG, LIAONING, CHINA TEL :
+86-24-8841-1407 FAX : +86-24-8841-1404 DOOSAN
INFRACORE AMERICA CORP. 2905 SHAWNEE
INDUSTRIAL WAY, SUWANEE, GEORGIA 30024, U.S.A. TEL :
+1-770-831-2200 FAX : +1-770-831-0480 DOOSAN
INFRACORE AMERICA CORP.(FORKLIFTS) 4350
RENAISSANCE PARKWAY, WARRENSVILLE HEIGHTS, OH 44128, U.S.A. TEL :
+1-216-595-1212 FAX : +1-216-595-1214
DOOSAN
INFRACORE AMERICA CORP.(MACHINE TOOL BG) 8 YORK
AVENUE, WEST CALDWELL, NEW JERSEY 07006, U.S.A. TEL :
+1-973-618-2500 FAX : +1-973-618-2501 |
|
Overseas Office |
DOOSAN
INFRACORE U.K. LTD. DAEWOO HOUSE,
UNIT 6.3, NANTGARW PARK, CARDIFF CF4 7QU, U.K. TEL :
+44-1443-84-2273 FAX : +44-1443-84-1933 DOOSAN
INFRACORE EUROPE S.A. 1A, RUE
ACHILLE DEGRACE 7080 FRAMERIES BELGIUM TEL :
+32-65-61-3230 FAX : +32-65-61-3238 DOOSAN
INFRACORE EUROPE S.A. FRANCE ZAC DE LA
CLEF ST. PIERRE - BUROPLUS 2 1A AVENUE JEAN D'ALEMBERT 78990 ELANCOURT FRANCE
TEL :
+33-1-3016-2151 FAX : +33-1-3016-2155 DOOSAN
INFRACORE EUROPE S.A. ITAILA (FORKLIFTS) VIA
MONFALCONE, 41 20092 CINISELLO BALSAMO(MI) TEL : +39-02-6120565
FAX : +39-02-6126322 DOOSAN
INFRACORE GERMANY GMBH HANS-BOCKLER
STRASSE 29, D-40764, LANGENFELD-FUHRKAMP, GERMANY TEL :
+49-2173-8509-20 FAX : +49-2173-8509-60 DOOSAN
INFRACORE SOUTH AFRICA PTY LTD. 60C ELECTRON
AVENUE ISANDO 1600, JOHANNESBURG, SOUTH AFRICA TEL :
+27-11-974-2095 FAX : +27-11-974-2778 DOOSAN
INFRACORE JAPAN CORP. 2402, MITA
KOKUSAI BLD., 1-4-28, MITA, MINATO-KU TOKYO 108-0073, JAPAN TEL :
+81-3-5730-9013 FAX : +81-3-5730-9016 DOOSAN
INFRACORE EUROPE S.A. GERMANY (FORKLIFTS) HEINRICH-VON-STEPHAN-STR.2
40764 LANGENFELD GERMANY TEL :
+49-2173-2035220 FAX : +40-2173-2035229 DOOSAN
INFRACORE EUROPE S.A. (FORKLIFTS) EUROPARK
NOORD 36 9100 SINT - NIKLAAS BELGIUM TEL :
+32-3-760-0987 FAX : +32-3-760-0989 |
Sales by Region (Activity & Markets)
|
Sales/ Unit :Mil KRW |
2006 |
2005 |
2004 |
|
Export |
1,961,591 |
1,620,829 |
1,414,696 |
|
Domestic |
1,321,179 |
1,194,427 |
1,445,940 |
|
Total |
3,282,770 |
2,815,256 |
2,860,636 |
The Subject exports to Europe, Asia, Africa and CIS Countries.
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
|
|
ROTEM COMPANY |
The Subject Company |
Claim for Repairing Cost |
5,198,000,000 KRW |
Proceeding |
|
|
|
Procurement Service Agency, Seoul City, Seoul Metro |
The Subject Company, Rotem, Hyundai Mobis |
Claim for Damanges |
2,000,000,000 KRW |
The Subject won |
|
|
|
Procurement Service Agency, Seoul City, Seoul Metro |
The Subject Company, Rotem, Hyundai Mobis |
Claim for Damanges |
10,000,000 KRW |
Proceeding |
|
|
|
Seoul City, Seoul Metro |
The Subject Company, Rotem, Hyundai Mobis |
Claim for Damanges |
100,000,000 KRW |
Proceeding |
News Clipping
Doosan Group Embarks on Fourth-Generation Management
Maeil Business Newspaper & mk.co.kr:01/16/2008
Doosan Group has carried out a major shuffle and promotion of 62 executives
across its headquarters and subsidiary companies on January 16 while the
fourth-generation offspring of the group’s founding family was noticeably
included in the promotion list.
Park Jin-won (39), managing director of Doosan Infracore and the eldest
son of Doosan Heavy Industries Chairman Park Yong-sung; and Park Tae-won (38),
managing director of Doosan Construction & Engineering and the eldest son
of the firm’s chairman Park Yong-hyun have been promoted to senior managing
director positions in their respective companies.
Park Seok-won (36), general manager at Doosan Heavy Industries and the
second son of the firm’s chairman Park Yong-sung; and Park Hyung-won (37),
general manager at Doosan Infracore and the second son of Doosan Construction
& Engineering Chairman Park Yong-hyun have been promoted to managing
directors in their respective companies.
Consequently, all members of the Doosan Group founding family’s
fourth-generation offspring except Park In-won (34), deputy general manager at
Doosan Corp. and the third son of Doosan Construction & Engineering
Chairman Park Yong-hyun, advanced to core positions in the conglomerate.
Hence Doosan’s fourth-generation leaders are now positioned across the
foreground of the group management since during the reshuffle at the end of
last year, Park Jung-won (45), vice chairman of Doosan Construction &
Engineering and Park Ji-won (42), vice president of Doosan Heavy Industries --
both of whom are sons of Park Yong-gon, honorary chairman of Doosan Group -- rose
to vice chairman of Doosan Corp. and president of Doosan Heavy Industries,
respectively.
Apart from the founding family’s scions, as a result of the promotion on
the day, Lee Tae-hee, former vice president of Doosan Corp., is now the
president of the firm and Choi Young-chun, executive director of Doosan Heavy
Industries and Yang Hee-sun, executive director of Doosan Infracore also won
promotions to vice president positions in their respective companies.
Doosan Group disclosed the background of its across-the-board promotion
that, “We have deployed competent players forward to reinforce our global
management. Fourth-generation managers passed the same test as others
underwent, based on their performance in past years.”
[Sun-young Park / KHS]
[ⓒ Maeil Business Newspaper &
mk.co.kr, All rights reserved]
Doosan Completes Bobcat Acquisition
Maeil Business Newspaper & mk.co.kr:12/02/2007
Doosan Group has touched up its Bobcat acquisition, which was the
largest overseas M&A deal made by a Korean firm.
Doosan made a deal with the U.S.-based diversified industrial company
Ingersoll-Rand to take over its three construction-equipment units including
Bobcat for $4.9 billion in late July and to finance the deal, raised $1 billion
independently and $3.9 billion via 12 domestic and foreign financial
institutions.
Doosan finalized all the necessary process to acquire Ingersoll-Rand’s
three units - Bobcat, Utility Equipment and Attachments - and announced the
future management polices on December 2.
First, Doosan plans to establish a holding company dubbed “Doosan
Infracore International (DII)” in the U.S., under which the recently-acquired
three business units will operate. As a result, Utility Equipment has been
renamed as “Doosan Infracore Portable Power” and Attachments, “DII
Attachments.”
Meanwhile, the group has decided to retain the existing management
including Bobcat CEO David Rowles by appointing him as CEO of DII.
[Sun-young Park / KHS]
[ⓒ Maeil Business Newspaper &
mk.co.kr, All rights reserved]
Doosan Infracore Establishes Nation’s Largest Machine Tool R&D
Center
Maeil Business Newspaper & mk.co.kr:11/22/2007
Doosan Infracore held a ground-breaking ceremony for the machine tool
R&D center at the company’s Plant 1 in Changwon, South Gyeongsang province,
Korea on November 22, attended by Vice-chairman Park Yong-man, the company
disclosed Thursday.
The construction which will be completed in July 2008 will bring out the
nation’s largest machine tool R&D center with five stories above and one
under ground, with the total floor space reaching 7,036 square meters, Doosan
Infracore explained.
The company stated, “The center will be equipped with top-notch research
installations and test equipments and the exterior of the center’s building
will look ultramodern and intelligent with the newest technology blended in the
structure.”
Doosan plans to develop future machine tools that will be able to meet
the current fusion technology (FT) trend toward complexity, precision and
high-speed in the newly-established R&D center.
Kim Woong-beom, head of the machine tool business group (BG) at Doosan
Infracore, said, “Just following the technology of advanced enterprises cannot
secure us the leading position in the world machine tool industry. The machine
tool R&D center where we will create new technology on our own initiative
will play a key role in making us the world’s No.1 machine tool manufacturer by
2015.”
[Sun-young Park / KHS]
[ⓒ Maeil Business Newspaper &
mk.co.kr, All rights reserved]
Doosan to spend $4.9 billion to buy equipment makers
JoongangIlbo & Joins.com:07/31/2007
In the biggest overseas acquisition ever made by a Korean firm, the
construction equipment arm of Doosan Group said yesterday it had agreed to
purchase three key units of Ingersoll-Rand Company Limited for $4.9
billion.Doosan Infracore will buy three construction equipment firms from the
Bermuda-based company: Bobcat, a world-leading brand, as well as Utility
Equipment and Attachments.Those units employ about 5,700 employees worldwide
and generated a combined sales revenue of $2.6 billion last year, Doosan
Infracore said in an e-mailed release.Doosan said it wants to add compact
construction equipment to its existing line of medium- and large-sized
equipment, as well as strengthen its sales and global networks.The acquisition
of Bobcat will help the Korean firm gain name recognition in overseas markets,
said Jeong Dong-ik, an analyst for CJ Investment and Securities.Shares of
Doosan Infracore surged 14.9 percent, or 4,800 won ($5.20), to end at 37,000
won yesterday.
Jeong said it is not certain, however, whether further gains will
immediately follow because the share price is “not that cheap” even now.
Doosan Group is Korea’s 11th-largest conglomerate by asset size.
Doosan Infrastructure is one of the group’s core businesses, along with
Doosan Heavy Industries and Construction.
Doosan will pay $700 million in initial acquisition fees, then pay the
rest in installments.Ingersoll-Rand owns dozens of firms around the world and
reported $964 million in net earnings during the second quarter of 2007.
The firm wants to transition from cyclical, heavy machinery into more
profitable climate-control technology, said Bae Kyun-ho, a Doosan Group
spokesman.
Climate-control products include ways to transport, preserve, store and
display temperature-sensitive products.
Upon completion of the sale, Doosan Infrastructure will have a combined
network of more than 3,700 dealers worldwide and 20 factories in countries such
as the United States, China, Belgium, France and the Czech Republic, the
company said.With the purchase, Doosan expects its sales this year to amount to
$7.4 billion won, boosting its global ranking from the current 17th to seventh
in the construction equipment sector.
By Seo Ji-eun Staff Writer [spring@joongang.co.kr] - Copyrights ⓒ JoongangIlbo &
Joins.com, All rights reserved. -
Doosan Acquires U.S. Heavy Industry Equipment Markers: Largest Domestic
M&A Abroad
MAEIL NEWSPAPER:07/30/2007
Doosan Infracore Co. Ltd. and Doosan Engine Co. Ltd. have concluded a
contract to acquire three business sectors of Ingersoll Rand Co. Ltd. in New
York: construction heavy equipment, attachment and utility, for about $4.9
billion or 4.5 trillion won, with Park Yong-man, vice-president of Doosan Group
and Herb Henkel, chairman of Ingersoll Rand in presence.
Doosan Infracore has surged in the ranking of construction heavy
equipment makers after acquiring Ingersoll Rand, a leading diversified
industrial conglomerate.
The recent contract is the largest scale Merger & Acquisition
(M&A) in the overseas market, done by a domestic company.
Doosan Infracore and Doosan Engine are scheduled to establish a joint
overseas corporate for the recent acquisition.
The three aforementioned business sectors acquired by Doosan Infracore
have a network of about 2,700 dealers in the U.S. and Europe and 16 production
plants in six countries and raised $2.6 billion in sales and $370 million in
operating profit in 2006.
The construction heavy equipment business arm has a market share of 38
percent and 43 percent in the U.S. and Europe in 2006, respectively.
The heavy equipment attachment arm has a global market share of eight percent,
the largest share, and the air compressor arm has a market share of 28 percent
in the utilities sector.
Through such an epoch-making acquisition, Doosan Infracore has fortified
its construction equipment business portfolio by complementing compact
equipment business in the medium- and large-sized construction heavy equipment
business.
Moreover, Doosan Infracore has managed to form a global sales &
production network by gaining about 20 production plants in China, Belgium,
North America, France and Republic of Czech, and procuring a 3,700-dealer
network, worldwide.
The sales volume of Doosan Infracore is expected to increase from 4.4
trillion won to 7 trillion won this year thanks to the acquisition.
Furthermore, Doosan Infracore has been pushing for M&A with overseas
companies by executing merger with CTI and a Chinese wheel loader this year.
[Bo-yung Kim / KHS] [ⓒ Maeil Business Newspaper & mk.co.kr,
All rights reserved]
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.58 |
|
UK Pound |
1 |
Rs.81.43 |
|
Euro |
1 |
Rs.64.52 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)