Doosan Infracore Co., Ltd., purchased Bobcat Co. for $4.9 billion, according to a Wall Street Journa online report posted yesterday.
Doosan Infracore Co., Ltd., purchased Bobcat Co. for $4.9
billion, according to aWall Street Journalonline report
Doosan, a South Korean conglomerate involved in everything
from publishing to animal feed, has been making moves into the general
industrial business. The firm already produces heavy construction equipment and
The deal for Bobcat, based in Fargo, ND, also includes
air compressors, portable light towers and tools used with excavating
equipment. Former owner Ingersoll-Rand Co. had indicated a possible sale after
weak financial results related to the housing downturn, according to the online
report. The paper also said Doosan paid a high sum for the acquisition, with
some analysts valuing Bobcat at $3 billion. The Journal reported Bobcat’s 2006
sales at $2.6 billion.