Korean construction equipment makers, led by Hyundai Doosan Infracore, sharply increased sales of their mini-sized excavators, which refer to those less than six tons, in China over the past four years, their holding company said Tuesday.
Doosan Infracore’s plan to issue 800-billion-won ($684 million) in new shares is being met with a wide range of opinions from analysts.
Hyundai Heavy Industries Group closed a deal to acquire 30 percent of Doosan Infracore for 690.9 billion won ($600 million) through its Hyundai Genuine subsidiary.
The Fair Trade Commission (FTC) on Tuesday approved Hyundai Genuine, the parent company of Hyundai Construction Equipment, acquiring 34.4 percent of Doosan Infracore, a construction machinery maker, for 850 billion won ($760 million).
Doosan Infracore said Thursday that its monthly sales surged in March at home and abroad on the back of stimulus policies around the globe and brisk development projects.
Hyundai Heavy Industries Holdings agreed to buy 34.97 percent of Doosan Infracore for 850 billion won ($756 million) on Friday, completing a deal made in the context of Doosan’s restructuring and Hyundai seeking to strengthen its machinery.
Korea's top construction equipment maker Doosan Infracore said Monday that construction equipment sales in Korea by unit rose 18 percent last year from a year ago on increased demand.
Korea’s Supreme Court on Thursday ruled in favor of Doosan Infracore in a lawsuit filed by a group of financial investors over the failed initial public offering of the company’s Chinese unit.
Korea’s top construction equipment maker Doosan Infracore said Monday that its excavator sales in China rose 22 percent last year from a year earlier on the back of infrastructure investment expansion by the Chinese government.
Hyundai Heavy Industries Holdings (HHI Holdings) has been named the preferred bidder to acquire Doosan Heavy Industries & Construction’s shares in heavy equipment maker Doosan Infracore.