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Doosan Bobcat to invest 77 bln won for U.S. plant expansion

Economy 11:00 May 04, 2021

By Nam Kwang-sik

SEOUL, May 4 (Yonhap) -- Small-sized construction equipment maker Doosan Bobcat Inc. said Tuesday that it will spend 77 billion won (US$68.6 million) to expand one of its U.S. plants in a bid to meet growing demand.

The plant located in Statesville, North Carolina, produces compact tractors and portable power stations, or compact battery-powered generators, Doosan Bobcat said.

The expansion is aimed at meeting steadily increasing demands for grounds maintenance equipment (GME), such as ride-on mowers and hedge cutters, the company said.

This photo provided by Doosan Bobcat Co. on May 4, 2021, shows its plant in Statesville, North Carolina. (PHOTO NOT FOR SALE) (Yonhap)

Sales of GME rose 98 percent to $327 million in 2020 compared with $165 million in 2019, it said.

The expansion will be completed by May 2022 starting from July.

Last month, Doosan Bobcat finished the $26 million expansion of another plant in Litchfield, Minnesota.

The small-sized construction machinery maker said it has also released a small articulated loader for narrow spaces in the markets of Europe, the Middle East and Africa.

Doosan Bobcat, a unit of Doosan Heavy Industries & Construction Co., has been pushing for new business to produce compact tractors and farming and landscaping equipment, including mowers, since 2018.

The company bought a forklift business division from Doosan Corp., the holding company of Doosan Heavy Industries & Construction, for 750 billion won in March to tap into the forklift market from the second half of the year.

ksnam@yna.co.kr
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