Doosan Infracore / ex-Daewoo Heavy Industries
Doosan Infracore began its history in 1937 as Chosun Machine Works. The Company opened Korea's first large-scale machinery factory at Incheon in 1942. In 1963, the company was reorganized as a state-run enterprise and renamed Korea Machinery Industries Corp., helping to advance the industrial modernization of the country. Korea Machinery Industries was the first operation in Korea to produce diesel engines, forklift trucks, rolling stock and other machinery products. The company's factory was soon expanded and upgraded to broaden its operations.
In 1976, the company was renamed Daewoo Heavy Industries Ltd. and began to play a leading role in the advancement of the domestic machinery industry in step with government policies encouraging the heavy industry and chemical sectors. A new diesel engine factory was completed along with factories for excavators, forklifts and machine tools, creating a modern industrial base. The company also established an R&D unit to develop technology in-house, while continuing to purchase advanced technologies externally as well. As a result, the company quickly evolved into a well-rounded machinery manufacturer
In the 1980s, the company (still then known as Daewoo Heavy Industries) aggressively expanded its business portfolio as well as its operational scale. Forklift production began on an OEM (original equipment manufacturer) basis for Caterpillar, paving the way for rapid advancement in the sector. The company also entered the aerospace industry, supplying General Dynamics with F-16 airframe parts, and completed a new factory dedicated to defense industry manufacturing.
At the same time, the company continued to broaden its line of diesel engines, excavators, forklift trucks, and machine tools, and solidified its internal product and technology development. In-house brands were created for all major product lines, including the Solar excavator and Storm engine series. The acquisition of proprietary technology and cutting-edge know-how provided a further springboard for growth.
In the 1990s, the company (still then known as Daewoo Heavy Industries) began to cultivate overseas markets and accelerate its activities outside Korea. A machinery production subsidiary in Europe, opened in 1990 and Korea's first in Europe, was followed by a plant in China in 1994. Subsequently, sales subsidiaries and branches opened in the US, the UK, France, Germany, Italy among other locations. As the company grew its global presence, a vast dealer network began to grow as well.
The Machinery Division separated from Daewoo Heavy Industries and launched as Daewoo Heavy Industries & Machinery. The official date of separation was August 31, 1999. The operating assets of the Daewoo Heavy Industries Machinery Division, overseas subsidiaries' investment securities and other real connections with asset value were transferred to Daewoo Heavy Industries & Machinery, which assumed responsibility for the above invested assets.
In April 2005, the company relaunched as Doosan Infracore, marking a new beginning. Management announced a new corporate vision - a vision focusing all of the company's operations on working together to create one of the world's Top 5 players in the infrastructure support business (ISB). Since the re-launch, Doosan Infracore has established a holding company in China and has significantly expanded its Chinese operations. A new subsidiary has also been opened in India as part of an ongoing program to expand the company's network of local production facilities outside Korea.
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