Doosan Bobcat has announced a new subsidiary – Doosan Industrial Vehicles (DIV). Formerly known as the DIV Business Group (BG) of the Doosan Corporation, Doosan Bobcat completed the acquisition of a 100% stake in DIV on 6th July 2021, for KRW 750 billion (557 million EUR).
On 1st July 2021, DIV announced that it had split from Doosan Corporation and that its Board of Directors had appointed Executive Vice President, Taeil Kim, the head of DIV BG since 2020, as the new CEO of DIV. Now part of Doosan Bobcat, DIV offers a wide range of material handling equipment, including forklift, warehouse equipment and downstream businesses.
Founded in 1968, DIV was the first company to produce forklifts in Korea, and is now the market leader with an unrivalled share of the Korean forklift market, which has been growing at an average annual rate of 7% since 2015.
DIV boasts diverse product lines including 1.5 to 30 t engine forklifts, 1 to 5 t electric forklifts and logistics equipment for warehouses.