It's "a move aimed at prodding Bobcat to take an active role in expanding Doosan Group's business through M&As, for which Doosan Group is willing to spend several billion dollars."
According to Doosan Bobcat's 3Q22 earnings report, the manufacturer brought in $1.8 billion in revenue in its third quarter 2022, up 33.2% year-over-year.
According to a Sept. 29 press release from United Steel Workers (USW), 700 Bobcat employees at the company's Bismarck, N.D., facility have voted to unionize.
In its 2Q21 earnings report, Doosan Bobcat reported sales revenue grew 45.2% year-over-year on the back of an increase in demand following economic recovery in major markets.
The launch of a new R-Series range of compact and full-size telescopic handlers marks the beginning of Doosan Bobcat’s campaign to double its sales of these machines into worldwide agricultural and construction markets over the next 5 years.
Doosan Bobcat’s entry into the European compact wheeled loader market has kicked off with the first Bobcat L85 model coming off the production line at the company’s European headquarters, engineering and assembly operations in the Czech Republic.
According to its latest earnings report, Doosan Bobcat saw 2020 sales of $3.6 billion, down 6.2% from $3.9 billion in 2019. Earnings before interest and taxes (EBIT) was $334 million in 2020, an 18.4% decrease from $409 million in 2019. Net profit was also down last year, coming in at $210 million vs. $233 million in 2019.
According to a report from Yonhap News Agency, Doosan Bobcat reported 1,400 compact tractors sold in the Jan.-May 2020 period, nearly half of its 3,000 tractor goal for the year.
According to a report from The Korea Times, Doosan Group has put up its share of Doosan Infracore for sale. This has been interpreted as a way for the group to maintain control of Doosan Bobcat amid financial trouble.
Based in a new $10 million headquarters at its Dobris plant in the Czech Republic, Doosan Bobcat EMEA recorded a 12.8% increase in revenues from €765 million ($732 million) in 2018 to €863 million ($936 million) last year.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.