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
History
The Doosan Group, founded in 1896, is the oldest and one of the largest conglomerates in Korea. The company began as the Park Seung Jik Store in 1896 in Baeogai(now Jongno 4-ga, Seoul), Korea’s first modern store. 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.
These acquisitions improved in Doosan’s annual financial performance, with revenues increasing from US $2.3 billion in 2000 to US $19.8 billion in 2007 for an annual average growth rate of 34%. In addition, Doosan posted a 25% annual growth in operating profits, rising from US $191.5 million in 2000 to US $1.75 billion in 2007. In 2009, the Doosan Group is one of the top ten conglomerates in Korea.
In the near future, Doosan plans to increase global overseas investments to US $1. 6 billion to continue its global business expansion.
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.
Subsidiaries
- Doosan Corporation Doosan Corporation underwent a painful restructuring and converted its organizational system into a future-oriented one consisting of 5 business groups, 5 profit center-concept business units and one center.
Doosan Corporation divisions include:
- Fashion : POLO, ESPRIT
- Electro-Materials : Copper-clad laminate manufacturing
- Glonet : Import & Export Services, Import & Sales of Home Appliances, Chemical Import & Sales, Food Sales, Distribution and Dining Facilities / * Trading Division
- Information & Communication : Solution Service, Data Center, ASP
- Doosan Heavy Industries & Construction Established in 1962, Doosan Heavy Industries & Construction has led the development in the nuclear and thermal power plant, desalination plant, casting and forging and construction arenas in North America, Asia, Europe, and the Middle East with a total of $4.1 billion in revenue in 2007. Doosan has built over 400 nuclear, thermal, and combines cycle power plants. And also, Doosan is one of the few companies in the world that has proprietary technologies for all major three desalination types: Multi Stage Flash (MSF), Multi Effect Distillation (MED), and Reverse Osmosis (RO). As part of the effort to grow as a global business, Doosan acquired the water treatment operations of American Engineering Services Inc., a Romanian heavy machines producer to secure a production base in Europe and also, a leading boiler manufacturer, Mitsui Babcock leveraging over 100 years of experience and the proprietary technology. Moreover, Doosan has established multiple Desalination R&D Centers in Dubai, UAE, and in Tampa, U.S., Doosan E&S of India as an engineering center in New Deli, and Doosan Babcock R&D Center in Renfrew, Scotland. As a global contractor in Engineering, Procurement and Construction (EPC), Doosan is continuously developing its expertise around the world. Doosan is currently building Sipat thermal power plant project which will light the homes of 1 billion people in India and the world’s largest desalination plant in Shuaibah with a daily desalination capacity of 880,000 tons in Saudi Arabia. Doosan’s global business goal is to achieve $1.7 billion in 2015, $3 billion in 2030 with 10% of operating income.
- Doosan Infracore is a South Korean company, the former Daewoo Heavy Industries & Machinery. Doosan acquired Daewoo Heavy Industries & Machinery and renamed as Doosan Infracore in April 2005. Along with localmanufacturing firms for excavators, forklift trucks, and construction systems, Doosan Infracore also has a worldwide dealer network comprised of more than 900 dealers and agencies in the U.S., UK, Germany, China, India, Japan, and Brazil. Doosan Infracore has established a holding company in China and has significantly expanded its Chinese operations. Doosan Infracore recently acquired Bobcat and the Attachments and Utilities business unites of Ingersoll-Rand. Doosan Infracore divisions include Construction Equipment, Machine Tools, Forklifts, Engines & Materials, and Defense Products.
- Doosan Mecatec With over 30 years of experience, Doosan Mecatec manufactures and engineers globally renowned Chemical Process Equipment (CPE), which holds the world’s top market share in this sector. Doosan Mecatec is also highly recognized for its superior technologies, and certified with the ASME STAMP and ISO 9001.
- Doosan Engine As an integrated diesel engine manufacturer, Doosan Engine is specialized in diesel engines for large vessels, as well the construction of internal combustion power plants that use diesel engines. Doosan Engine has the second largest global market share with an annual production capacity of 9 million bhp. With 20 years of experience, Doosan Engine recorded an annual order backlog of more than $ 1 billion in the last three consecutive years.
- Doosan Construction & Engineering Architecture, Civil Engineering and Plant Works
- Doosan DST
- Doosan Capital Integrated Credit Financing Services
- SRS Korea Restaurant Business: KFC, Burger King and Food Culture
- Oricom Advertising Agency : Pioneer of International Client Service in Korea
- Doosan Bears Professional Baseball Team
- Samhwa Crown & Closure Bottle Caps Manufacturing
- Doosan Motors Corporation Main Honda Dealer
- Neoplux Venture capital, corporate restructuring & Consulting
- Doosan Cuvex Ladena Golf Club, Ladena Condominium
- Doosan Tower Corporation Property lease and service, Fashion shopping mall
- Doosan Feed & Livestock Corporation Animal feed business (Baekdoo feed)
- Rexcon
Worldwide presence
- U.S.(4,200); Bobcat - also includes factories in Wujiang, China, Dobris, Czech and Slane, Ireland, These businesses employ
approximately 5,700 people worldwide
- UK ; Doosan Babcock ( December 2007) 4,560 employees , (December 2008) 5,414 employees
- Romania (762); (Doosan IMGB S.A.) Soseaua Berceni nr 104, Sector 4, Bucharest
- Belgium (500); Frameries, Belgium Doosan Infracore
- Poland (425) ; Doosan Babcock Energy Polska ul. Podmiejska 7 44-207 Rybnik Poland
- Norway (120) ; Doosan Moxy AS. Varhol - 6440 Elnesvågen
- Czech (1,000) ; Skoda Power
- Vietnam (1,700) ; Doosan Vina Heavy Industries
- China (2,700) ; Doosan Infracore
Recently Acquired Companies
- American Engineering Services Inc.(currently, Doosan Hydro Technology Inc.) in 2005.
- IM
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