Doosan Group is a South Korean conglomerate quoted on the Korea Stock Exchange. Doosan has been placed 471st in the Fortune 2009.It has been included in the Forbes Global 2000 companies from 2007.It had recently acquired SKODA power thus making it a full swing in power plant global competitors.Doosan was ranked 4th among the “World’s Best 40 Companies 2009” list,released in the latest issue of BusinessWeek, the U.S. economics magazine in October 2009. Fortune Global 500
The Doosan Group, founded in 1896. The company began as the Park Seung Jik Store in 1896 in Baeogai(now Jongno 4-ga, Seoul). Since then, Doosan has developed into a multinational, diversified business empire, with particular emphasis on consumer goods, manufacturing and the trading and construction sectors.
Doosan has developed a new global growth strategy by acquiring several major companies over the last seven years including Doosan Heavy Industries and Construction (formerly Korea Heavy Industries and Construction, a heavy industry company specializing in power and desalination plants) in 2001, Koryeo Industrial Development in 2004, and Doosan Infracore (formerly Daewoo Heavy Industries & Machinery, a company specializing in construction machinery) in 2005.
In 2006, Doosan acquired a number of global companies, including the boiler engineering company Mitsui Babcock UK(renamed Doosan Babcock) and Kvaerner IMGB, the largest casting and forging company in Romania. In 2007, Doosan acquired a leading construction machinery company, Bobcat USA, the world’s largest supplier of small construction equipment. Post acquisition of Bobcat USA into Doosan Infracore, one of the Doosan Group’s subsidiary companies specializing in medium and large construction machinery, the Doosan Group became the world’s seventh largest supplier of construction machinery.
Doosan currently has 21 subsidiary companies in Korea and 112 overseas branch corporations in 33 countries. It has over 35,000 employees (20,000 in Korea and 15,000 overseas) and a worldwide network of over 3,700 dealers.
Key Business Areas:
Doosan’s core businesses are based on ISB (Infrastructure Support Business). Doosan’s Infrastructure Support Businesses are made up of six subsidiaries: Doosan Corporation, Doosan Heavy Industries & Construction, Doosan Infracore, Doosan Construction & Engineering, Doosan Mecatec, and Doosan Engine. These subsidiaries provide people with electrical power, desalinated drinking water, construction equipment, advanced machinery, defense supplies, houses, highways and bridges, chemical processing equipment, and industrial engines.