Doosan Infracore announces sale of its equipment affiliate

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Doosan Infracore announces sale of its equipment affiliate

Published: 05 Jun. 2015, 20:07

Doosan Infracore, a machinery manufacturer under Doosan Group, said Friday it sold its France-based equipment maker Montabert for 110 million euros ($124 million) to U.S.-based Joy Global.

The company said the decision is part of efforts to streamline its businesses.

Montabert supplies mining equipment such as breakers and drifters while Joy Global specializes in making quarrying equipment.

“We are attempting to focus on a more central business area by selling non-core businesses in Europe that are not closely linked with the existing business lines [of Doosan Infracore],” the company said in a statement.