From wikiMHEDA

Material Handling Headlines

Doosan Group has set this year's operating profit target at 1.6T won (some $1.4B), up 100 percent from 2009, group chairman Park Yong-hyun said Thursday.

The nation's 10th-biggest conglomerate is aiming to reap 24.4T won in total sales for 2010, up 14% from a year earlier, by applying selection and concentration strategy, he said.

It plans to reap over 60% of the projected 24.4T won in sales from overseas, compared with about 50% in 2009, by advancing into markets in Russia and Latin America.

The group, whose key businesses range from shipbuilding, turbines and heavy equipment, also hopes to enter the ranks of the top global 200 in terms of sales by 2020.

``Outlook is still mixed over the global economy in 2010. Amid uncertainties, Doosan will place stable cash flow as the top corporate priority,'' he said.

``But we will seek ways for further external growth. Value and profit are the key conditions of the strategy,'' Park said, adding selective strategies upon markets will be implemented.

Referring to the results of its overseas acquisitions—Bobcat and Skoda Power—Park said Doosan will maximize synergetic effects with management integration of its overseas affiliates.

Citing the recent victory by a South Korean consortium on a $20.4B project in the United Arab Emirates (UAE), market analysts say this year would be brighter for the group's key heavy equipment unit.

Read the full story at koreatimes.co.kr.

RSS Feed  

Comment(s) Post a Comment   Be the first to comment on this News Item.  Comment on this News Item: Name: Company: Email: Comment: Security Code: Reload Image Enter the text shown in the box above. Comments that include profanity, personal attacks or antisocial behavior such as "spamming," "trolling," or any other inappropriate material will not be posted to the site and/or will be removed from the site. You are fully responsible for the content you post. Neither the Association nor the publisher of this website, Data Key Communications, Inc, are responsible for the contents thereof or the opinions of the contributors. Contact and company information entered must be true and accurate. By submitting a comment, you agree to these terms and conditions.

More Headlines Showing Page 1 of 200 1 2 3 4 5 Next›   Last›› 12/20/2011 Manufacturers To Double Internships ...more | Comments Industry leaders commit to double engineering internships. 12/20/2011 New Orders Grow In 2011 ...more | Comments Equipment orders grow 17.1 percent in first half. 12/20/2011 Coca-Cola Moves To Fuel Cells ...more | Comments Crown Equipment to provide trucks. 12/19/2011 Robotics Event Held In Indiana ...more | Comments Indiana Robotics Invitational inspires young people. 12/19/2011 BMW Seeks Methane-to-Hydrogen Conversion ...more | Comments Automaker launches $1 million project to convert landfill gas. 12/19/2011 CEMA Reports Growth ...more | Comments Booked Orders Index up 7 percent over 2010. 12/16/2011 Small Business Contracting Increases ...more | Comments Federal government shows increase in contracting dollars to small firms. 12/16/2011 U.S. Leads World In Hydrogen Forklifts ...more | Comments More than 1,500 forklifts deployed or ordered in 2010. 12/16/2011 Supply Chain Impacted By Social Media ...more | Comments Social media are having an effect on supply chains and procurement. 12/15/2011 NMHG Receives Top Plant Award ...more | Comments Berea, KY manufacturing facility receives 2011 Top Plant Award.