Doosan Infracore Co. Ltd (DI) was incorporated in October 2000 from a spin off from Daewoo Heavy Industries Ltd. (DHI). Management changed its name to Doosan Infracore, from Daewoo Heavy Industries and Machinery Ltd., in April 2005. As of December 31, 2013, approximately 36 percent of DI stock was owned by Doosan Heavy Industries and Construction Co. Ltd down from approximately 45 percent as of December 31, 2011. The Bobcat Company is a subsidiary of Doosan Infracore Bobcat Holdings, Ltd. DI offers Doosan branded machines (full sized excavators, wheel loaders and articulated haulers) and Bobcat machines (mini-excavators, skid steer loaders, compact track loaders, telehandlers and small, tracked excavators).
DI has incorporated Bobcat Company, acquired in November 2007, into its operations. Bobcat’s financial information is included in the Construction Equipment segment as well as broken out in the newly formed Doosan Infracore Bobcat Holdings (DIBH). DI currently offers a complete line of compact construction equipment (under 6 tons), certain compact excavators and telehandlers under the Bobcat brand name and medium and large-scale construction equipment under its Doosan brand name. Doosan machines are imported from Korea, while much of the Bobcat branded machinery is made in North Dakota with some exceptions, which are imported from various other Doosan factories abroad. We will discuss the specifics later on in the report.