Hyundai Heavy Industries Holdings "Not Considering Acquisition of Doosan Infracore"

[Asia Economy Reporter Park Soyeon] On the 7th, Hyundai Heavy Industries Holdings denied the acquisition of Doosan Infracore in response to the Korea Exchange's inquiry disclosure, stating, "There has been no consideration of acquisition." A Hyundai Heavy Industries Group official said, "There may be movements to understand related industry trends, but there has been no consideration of acquisition or selection of advisory firms."

Hyundai Construction Equipment had been considered a strong candidate for acquiring Infracore even before the Doosan Group officially announced the sale of Infracore. This is because Hyundai Construction Equipment is the second-largest operator and a strong competitor following Doosan Infracore in the domestic construction equipment market. In the domestic construction equipment market, Doosan Infracore holds the top position with a 40% market share, while Hyundai Construction Equipment and Volvo Construction Equipment compete for second and third places with 20-30% each. Last year, in China, Doosan Infracore ranked 6th (7.3%), and Hyundai Construction Equipment ranked 8th (3.5%).

Overseas competitors of Doosan Infracore include SANY, XCMG, and Caterpillar, but the possibility of Infracore being sold to foreign companies is slim. If Doosan Infracore is sold to an overseas company, the construction equipment technology that Infracore has accumulated so far could be taken away at once, and it also operates a defense business. Doosan Infracore produces powerpacks (engine, transmission) used in the K2 Black Panther tank at its Incheon plant.

This content was produced with the assistance of AI translation services.