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Machine-Tools Acquisition in South Korea

Machine-Tools Acquisition in South Korea

Monday, May 23, 2005
 
The Doosan Group of South Korea has acquired the management of Daewoo Heavy Industries and Machinery (DHIM) from Korea Asset Management Corp. The acquisition includes the DHIM Machine Tool, Construction and Defense divisions. DHIM will now be called Doosan Infracore Co., Ltd. As a result, two machine-tool companies, the other being Doosan Mecatec, will carry the same Doosan logo. “The two companies will operate independently,” says Young Park, president of Doosan Machinery America, Inc. (DMA), Sterling Heights, MI, the Doosan representative in the United States. “DMA will reinforce its sales activity through its existing distributor network in North America.” DMA offers a range of CNC vertical and horizontal lathes and horizontal and vertical machining centers.

 

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