Doosan Infracore makes South Korea’s largest overseas acquisition

Date: 21 August 2007

Doosan Infracore Co, South Korea’s largest manufacturer of construction machinery has agreed to buy Bobcat and other earth moving units from the Ingersoll Rand Group for $4.9bn, the countries biggest overseas acquisition.

The acquired business has revenues of about $2.6bn and this will increase Doosan Infracore's revenue to around $7.6bn. Shares in Doosan Infracore rose 15% after the deal was announced, their steepest gain since May 2004.