Doosan Infracore agreed to acquire the Bobcat, Utility Equipment, and Attachments business units from Ingersoll Rand for $4.9 billion, which is reportedly one of the largest foreign purchases by a Korean company. The sale is expected to close early in the fourth quarter of 2007.
The combined businesses manufacture skid-steer loaders, compact track loaders, mini-excavators and telehandlers; portable air compressors, generators and light towers; general-purpose light construction equipment; and attachments. In 2006, those businesses collectively generated about $2.6 billion in revenues.
According to the Wall Street Journal, a Doosan Infracore spokesman said the company will keep the Bobcat brand name in markets where it is well known, such as in the U.S. and Europe, and use the Doosan name in Asia.