Hyundai Heavy Industries completed the acquisition of Doosan Construction Machinery! Target the top five in the world!

According to Yonhap News Agency’s August 20 news, Hyundai Heavy Industries Holdings (HHIH) has officially completed the acquisition of Doosan Construction Machinery.

The acquisition was completed by Hyundai Genuine (HG), a holding company established by Hyundai Heavy Industries in July this year. After the acquisition, Doosan Infracore and Hyundai Infracore will become a subsidiary of HG.

It is reported that in the future HG will be rooted in the construction equipment industry, combining the different advantages of the two major brands, and actively deploy in new technologies and innovation fields. For example, we are working hard to promote the commercialization of Doosan Concept-X system and fully develop new products such as electric excavators, battery packs, and hybrid fuel cells.

In the future, Doosan Construction Machinery and Hyundai Construction Machinery will grow together and become a top player in the global construction equipment market. They will complement each other’s advantages in technology, production, procurement, and sales, so as to expand the overall business of Hyundai Heavy Industries. Work towards the top five goals in the world.

The editor of China Construction Machinery Business Network noted that Doosan Construction Machinery ranked 10th with an operating income of 7.109 billion U.S. dollars in the 2021 Yellow Table of the top 50 global construction machinery manufacturers released in May this year (a decrease of 1 compared with last year). Hyundai Heavy Industries ranked 21st with a revenue of US$2.345 billion (up 1 place). If you simply add them together, the two combined income of US$9.454 billion can be squeezed into the top five-slightly better than the currently ranked №5 Zoomlion (US$9.449 billion).

However, in a complex market environment, acquisition is not a simple addition and subtraction after all. It is even more difficult to avoid internal roll-up and internal friction, and to achieve the effect of 1+1>2; considering the current global development of construction machinery The top five have emerged from the epidemic and the top three in China, which have firmly grasped the first opportunity, have controlled the threshold. Judging from the rapid development speed of XCMG, Sany, and Zoomlion, Hyundai Heavy Industry wants to catch up, I am afraid it is not so. Easy!

Of course, the change of the top ten pattern is inevitable, let us wait and see!

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