The sale of Doosan Infracore (DI) to Hyundai Heavy Industries Holdings Co (HHIH) has officially been completed, writes forconstructionpros.com.
The acquisition means Doosan Infracore is now a subsidiary of the newly-created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE).
The two brands will combine to become a new construction equipment powerhouse.
The plan is to invest heavily in areas such as future technologies. In particular, Doosan Infracore will work towards commercialising Concept-X – an autonomous construction site solution – and developing innovative equipment such as electric excavators, hybrid fuel cells and battery packs.
The value of the sale hasn’t been disclosed, but it is estimated at between 700 billion and 800 billion South Korean won (£436-500 million).
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