2011 Doosan Fact Book - Doosan Equipment · 56 Our Businesses 60 Global Network ... •Doosan...
Transcript of 2011 Doosan Fact Book - Doosan Equipment · 56 Our Businesses 60 Global Network ... •Doosan...
2011 Doosan Fact Book
Doosan has selected " " as the corporate slogan,which is based on the conviction that companies must contribute to humankindand help to shape the future. All Doosan employees now embrace this slogan,and continue to enhance capabilities as a global company through Doosan'sunique value and philosophy.
Doosan is working at this very moment to provide the basics necessary forimproving the quality of people's lives. Doosan's presence can be foundin every area of the infrastructure support business, which encompassesindustrial facilities, machinery, heavy equipment and construction. You areinvited to watch how we are helping to shape the future for all.
Doosan Capital / Neoplux Other Businesses Appendix
52 2010 Snapshot53 Our Businesses
56 Our Businesses 60 Global Network63 Contact Information
Doosan Engineering & Construction Doosan Engine
44 2010 Snapshot45 Overview46 Our Businesses
49 2010 Snapshot50 Our Businesses
Doosan Corporation Doosan Heavy Industries & Construction
Doosan Infracore
16 2010 Snapshot17 Overview18 Our Businesses20 DIP Holdings
Doosan Group
06 2010 Snapshot07 Doosan Business
Portfolio08 Major Strategies09 Global Market Position
10 Successful BusinessPortfolio Change
11 Fast & Profitable Growth12 Doosan’s Strategy13 Doosan’s Aspiration
24 2010 Snapshot25 Our Businesses28 Overseas Subsidiaries30 Research & Development31 Network
34 2010 Snapshot35 Overview36 Our Businesses
40 Research & Development41 Network
Contents
Doosan GroupGlobal Expansion that Extends our Reach
Contents06 2010 Snapshot07 Doosan Business Portfolio08 Major Strategies09 Global Market Position10 Successful Business Portfolio Change11 Fast & Profitable Growth12 Doosan’s Strategy13 Doosan’s Aspiration
G.total 24.6 100.0%
2010
(Unit: KRW in trillions, persons)
KEY FACTS OF DOOSAN GROUP
SALES
FINANCIAL HIGHLIGHTS
(Unit: KRW in trillions)
(Unit: KRW in trillions)('11(E): International Financial Reporting Standars(IFRS))
ISB 21.9 89%•Doosan Heavy Industries & Construction •Doosan Infracore •DII •Doosan Construction & Engineering •Doosan Engine •Doosan Mecatec
Others 2.7 11%•Doosan Corporation •SRS KOREA •Oricom
Sales24.6
EBIT1.9
Market Cap.18.7
Total No.of Employees
38,200
2010 SNAPSHOTDoosan Group
Sales
22.7 21.4
24.6
27.9
’08 ’09 ’10 ’11(E) EBIT
1.4
0.8
1.92.3
’08 ’09 ’10 ’11(E) Market Cap.
11.9
14.5
18.7
’08 ’09 ’10
7
Doosan Heavy Industries & ConstructionDoosan InfracoreDoosan Construction & EngineeringDoosan Engine, Doosan DSTDoosan Industrial Vehicle, Doosan Mottrol
ISB (Infrastructure Support Business)
Doosan CorporationDoosan Bears, OricomDoosan Feed & LivestockSRS Korea, Doosan Tower, Doosan CuvexDoosan Dong-A
Other Businesses
DOOSAN BUSINESS PORTFOLIODoosan Group
1996 2000 2006
Successful RestructuringAcquire Growth Engines &
Transform the Portfolio
Lay Groundwork for Global Leadership
•Divestiture of beer and soft drinkoperations
•Operation improvement,introduced performanceimprovement program
•Capital structure improvement(Debt-to-equity ratio lowered from688% to 216%)
•New start
[2G Strategy : Growth of people,Growth of business]
•Growth strategy through mergers& acquisitions - Korea Heavy Industries (now Doosan Heavy Industries &Construction)
- Koryo Industrial Development(now Doosan Construction &Engineering)
- Daewoo Heavy Industries &Machinery (now Doosan Infracore)
•Major Acquisitions - AES (now Doosan Hydro Technology) (US, ’05) - Mitsui Babcock (now Doosan Babcock) (UK, ’06)- Kvaerner IMGB (now Doosan IMGB) (Romania, ’06)- Yonhap Capital (now Doosan Capital) (Korea, ’06)- Yantai Yuhua (now DISD) (China, ’07)- CTI Engine (now CTI Engine) (US, ’07)- Three units, including Bobcat acquired from Ingersoll-Rand (now DII) (US, ’07)
- Dongmyung Mottrol (now Doosan Mottrol)(Korea, ’08)
- BNG Securities (Korea, ’08)- Moxy Engineering (now Doosan Moxy) (Norway,’08)- Skoda Power (Czech, ’09)- AE&E Chennai Works (India, ’11)
•Management System Upgrade
MAJOR STRATEGIES OVER THE LAST 15 YEARS AND FUTURE DIRECTIONS
MAJOR STRATEGIESDoosan Group
>
9
Global Market Position
Doosan Heavy Industries & Construction•Water plants: 1st in the world (M/S 56.7%)*•HRSG**: 2nd in the world (M/S 15%)•Crankshafts: 3rd in the world (M/S 22.8%)•Mold steels: 4th in the world (M/S 7.5%)•Work rolls: 4th in the world (M/S 8.5%)•Rudder horns: 2nd in the world (M/S 22.4%)•Hydro-turbine (blade) forging: 4th in the world
(M/S 6.4%)•Low-pressure turbine rotor shafts: 4th in world
market share (M/S12.9%)
Doosan Infracore•Excavators:1st in accumulated M/S in China •Skid steer loaders/Compact track loader:
1st in the world (M/S 39%)•Mini-excavators:3rd in the world (M/S 8%)•Attachments:1st in the world (M/S 8%)•Portable Air Compressors:1st in the world (M/S 28%)•Machine Tools:4th in US and 5th in the world
Doosan Engine•Marine engines: 2nd in the world (M/S 25%)
* Based on 10MIGD** HRSG : Heat Recovery Steam Generator
HEADING FOR GLOBAL LEADERSHIP
Global Sales Domestic Sales
GLOBAL MARKET POSITIONDoosan Group
3.412%
88%
55%
45%
24.60.4
1998 2010
13.5
11.1
Doosan Group's Surging Global Sales
3.0
(Unit: KRW in trillions)
SUCCESSFUL PORTFOLIORESTRUCTURING
DOOSAN GROUP REVENUE
SUCCESSFUL BUSINESS PORTFOLIO CHANGEDoosan Group
67%
89%
ISB
Others
11%
33%
1998 2010
From Other Businesses toInfrastructure Support Business
(Unit: KRW in trillions)
4.93.4 3.4
6.9
14.2
7.2
18.5
22.7
78%
71%
49%49%
21.477%
79%
’96 ’98 ’00 ’02 ’04 ’06 ’07 ’08 ’09
OrganicGrowth
InorganicGrowth
Restructuring
AcquiringGrowth Engine 24.6
77%
’10
11
SALES (Unit: KRW in trillions) EBIT (Unit: KRW in trillions) MARKET CAP. (Unit: KRW in trillions)
THE GROUP’SVALUE HASSURGED 37-FOLD SINCE 1998.
FAST & PROFITABLE GROWTHDoosan Group
’02
3.4
6.9
24.6
’98 ’02 ’10
0.2
0.3
1.9
’98 ’02 ’10
CAGR 18%
CAGR 23%
0.5 0.92.0
11.910.7
18.7
’98 ’04 ’10
37X
’06 ’08
WHERE TO COMPETE
ISB
HOW TO COMPETE
2G strategy :Virtuous cycle of personnel and business growth
▶▶
•People Program•Aggressive compen-
sation, meritocracy•Open-door policy•Doosan Leadership
Institute (HR Development)
•Focus on incomesources•Business spectrum•Acceleration
through mergers (corporate valueenhancement)
Growth of People Growth of Business
2G Strategy
Speed-up through M&A : Acquiring technology, skill, products, and market leadership by paying fair price
Source of income : Striving to be a world leading ISB company by continuously discovering growth engines
DOOSAN’S STRATEGYDoosan Group
13
A companyoperated byglobal standardsand transparentaccounting standards
A company whosetalented peopleare the source ofcompetitiveness
A company withglobalcompetitivenessjoining the world’sTop 200 by 2020
DOOSAN’S ASPIRATIONDoosan Group
Doosan CorporationDiversified Company that Enriches Life
Contents16 2010 Snapshot17 Overview18 Our Businesses20 DIP Holdings
2010 SNAPSHOTDoosanCorporation
FINANCIAL HIGHLIGHTS
OVERVIEW
SALES
(Unit: KRW in billions, persons)
(Unit: KRW in billions)
(Unit: KRW in billions)('11(E): IFRS)
G.total 1,606 100.0%
2010
Electro-Materials 732 45.6%Mottrol* 216 13.4%Fashion 224 13.9%Glonet 240 15.0%Information&Communication 175 10.9%Others 19 1.2%
* Motttrol was merged in 2010
Sales EBIT Market Cap.
Sales1,606
EBIT132
Market Cap.4,145
Total No.of Employees
2,782
1,736
1,218
1,606
’08 ’09 ’10
53
87132
’08 ’09 ’10
2,4972,555
4,145
’08 ’09 ’10
1,965 262
’11(E) ’11(E)
17
Doosan Corporation is a holding companythat possesses three core values:operationalvalue, investment value and intangible value.
Doosan Corporation is a growing global partsmaker for the infrastructure support business.
A new system is being established to ensuresimultaneous profit and growth from ongoingbusinesses (electronic materials, Mottrol,import/export, Information & Communications).
Established BusinessesInnovate, maximize cash flow,seek new business models
New Growth EnginesDevelop new growth engines that also stimulategrowth in other Group companies- Portfolio expansion into ISB parts and technologywith Doosan Mottrol merger (2010)
Operation Value
SubsidiariesDoosan Heavy Industries & Construction, DIP Holdings
Other held assetsReal estate, treasury stocks
Investment Value
'Doosan' Brand ManagementProvide other Group companies with management capabilities and 'Doosan' brand value
Intangible Value
VALUE STRUCTURE OF DOOSAN CORP. AS A HOLDING COMPANY
OVERVIEWDoosanCorporation
CorporateValue
Operation Value
Intangible Value
InvestmentValue
Doosan Corp. is Korea’s oldest business operation, tracing its roots back to 1896 with the opening of the Park Seung-jik Store. Current portfolioconsists of three Business Groups (Electro-Materials, Mottrol and Glonet) and one Business Unit (Information & Communications). The DoosanGroup acquired Doosan Mottrol (previously Tongmyung Mottrol), Korea's leading maker of hydraulic machinery, to secure a new growth busi-ness. This company subsequently merged with Doosan Corporation in 2010, expanding its involvement in the infrastructure support businessand technology-intensive areas.
Electro-Materials
Doosan supplies top-quality copper clad laminate (CCL), an essential material for printed circuit boards.Our product lines include epoxy-based CCL (for PCBs in high-performance electronics such as computers,LCDs, mobile phones, digital communications, and handsets), and phenol-based CCL (for PCBs in TVs,VCRs, audio players, refrigerators, washing machines, CD-ROM drives, and DVD-ROM drives).
■Major Products: copper clad laminate (CCL) for printed circuit / boards (PCBs) / materials for flexiblePCBs prism sheet / OLED materials
Mottrol
Doosan Mottrol is the largest maker of hydraulic machinery in Korea. The company applies hydraulic,electric and electronic technologies to produce hydraulic motors and pumps for construction equipment,electric forklift trucks, and hydraulic systems for the defense industry. An ongoing R&D program hasenabled Mottrol to localize the production of various kinds of hydraulic equipment. In 2006,the Ministry of Commerce, Industry and Energy designated Mottrol's traveling motor for excavatorsas a "World Best Product." ■Major products: hydraulic motors & pumps for construction equipment and electric forklifts /
hydraulic systems for military hardware
OUR BUSINESSESDoosanCorporation
19
OUR BUSINESSESDoosanCorporation
Information & Communications
Doosan Information & Communications specializes in IT service packages for Doosan Group's operationsworldwide. The company leverages more than thirty years' experience and a global network of IT servicepartners to provide consulting, integrate IT systems, establish new applied systems and build IT infra-structure to Doosan affiliates.
■Major products and services: groupware / networks / ERP / ASP
Glonet
Doosan Group started out in trading in 1896 and has remained in the business for 115 years. The trading arm was renamed Glonet in 2007, and the business portfolio was reorganized to put greaterweight on profitability than on import-export activities. The biotech unit at the R&D Center was alsomerged with Glonet. As a result, the company has started as a provider of services ranging from tradingand logistics to biotechnology.
■Major products and services: imported food ingredients / chemicals / bio-tech productsconstruction equipment leasing
As a holding company, Doosan Corporation has participated in mergers and acquisitions to secure new revenue sources and bolstered thecompetitiveness of existing business lines. In 2009, we established DIP Holdings and included Doosan DST and SRS Korea as subsidiaries.In 2011, DIP Holdings also included Doosan Forklifts as a subsidiary and as such, we have further bolstered our business capabilities andspearheaded to global markets. Doosan Corporation's transition to a holding company has resulted in a more advanced governance structureand improved the efficiency of investments, raising corporate value and strengthening competencies.
Doosan DST
Doosan Defense Systems & Technology (Doosan DST) obtained government permission to participate inthe defense industry in 1973 and has played an important role in improving Korea's self-defense posture bydeveloping and producing an impressive array of high-precision and high-tech weapon systems. Theseinclude K200 armored fighting vehicles and surface to-air guided weapon systems, such as the Biho("Flying Tiger") and Chunma ("Pegasus"). Doosan DST's technology is gaining recognition internationally aswell. Since the first export of K200 armored fighting vehicles to Malaysia in 1993, we exported Barracuda(4x4) armored wheeled vehicles to Indonesia in 2004. In 2009, we made a contract to export the Blackfox(6x6 and 8x8 armored wheeled vehicles) to Indonesia and currently are producing the products.
Doosan DST aims to remain on the forefront of the future defense industry by leveraging our excellent technology and executing differentiated export strategies.
■Major products: short-range missile systems / 30-mm self-propelled anti-aircraft weapons systems / K-21 infantry fighting vehicles / naval gun systems and torpedo launching systems
DIP HOLDINGSDoosanCorporation
’08 ’09 ’10Sales 532 706 971EBIT 15 60 110
(Unit: KRW in billions)
’10
’09
’08
21
SRS Korea
Established in 2004, SRS Korea manages 142 KFC restaurants, 113 Burger King restaurants and7 Lente shops, a coffee and bakery brand in Korea. SRS also engages in the concession business,operating food and beverage outlets at Incheon International Airport, Yonsei University Hospital andthe Doosan Tower.
Doosan Industrial Vehicle
Doosan started the forklift business in 1967 and has successfully developed its own engines and transmissions, core parts, since the first development of its priprietary forklift model in 1993. Annual output capacity now stands at 35,000 high-quality forklifts in more than 150 different models produced at plants inside and outside of Korea. Doosan Forklifts Co., Ltd. joined DIP holdings in 2011.
■Major products: diesel-powered forklifts / gasoline LPG-powered forklifts / electric-powered forklifts
DIP HOLDINGSDoosanCorporation
Doosan Heavy Industries &ConstructionGlobal Leader in Power and Water
Contents24 2010 Snapshot25 Our Businesses28 Overseas Subsidiaries30 Research & Development31 Network
2010 SNAPSHOTDoosan
Heavy Industries& Construction
(Unit: KRW in billions, persons)
(Unit: KRW in billions)SALES
OVERVIEW
FINANCIAL HIGHLIGHTS(Unit: KRW in billions) ('11(E): IFRS)
G.total 8,197 100.0%
2010
Power Plants 2,999 36.6%
Nuclear Power Plants 1,214 14.8%
Water Plants 435 5.3%
Castings & Forgings 795 9.7%
Construction 1,227 15.0%
DPS 1,527 18.6%
* Not including transactions among internal units
*Overseas employees included
Sales EBIT Market Cap.
Sales7,780
EBIT637
Market Cap.9,079
Total No.of Employees
15,564
7,0307,685 7,780
9,330
’08 ’09 ’10 ’11(E)
504 534637
650
’08 ’09 ’10 ’11(E)
6,602
8,5769,079
’08 ’09 ’10
25
Doosan Heavy Industries & Construction was established in 1962 and today the portfolio spans castingand forging, thermal and nuclear power plants, desalination plants, and material handling equipment forcustomers around the world. Doosan boasts outstanding competitiveness in plant constructions as well asinfrastructure projects such as roads, ports and railways.
Doosan Heavy Industries & Construction has won orders for major power plant projects in China, India,Southeast Asia and other emerging markets. In 2010, Doosan Power Systems (DPS) was established inorder to make further inroads European and American markets. Doosan Heavy Industries & Constructionleads the world market for desalination plant construction and has patented technologies for each of the threemajor methods: multistage flash (MSF) distillation, multi-effect distillation (MED) and reverse osmosis (RO). Inline with recent global trend of environment regulation reinforcement, our R&D focus has been on green indus-tries such as carbon capture & storage (CCS), wind power generation and fuel cells for the future.
With a recent acquisition of DEWI-OCC certification for 3 MW offshore wind turbine systems, our developmentsare providing a solid platform for the global market.
*The sales for each unit do not include resultsfrom overseas subsidiaries.
OUR BUSINESSESDoosan
Heavy Industries& Construction
EPC
EPC sector performs every process from design and fabrication to procurement,installation and commissioning taking charge of massive EPC projects in the MiddleEast, India and Southeast Asia. In 2011, our extensive know-how will be leveraged byintegrating engineering and construction capabilities in order to take our competitive-ness still higher.
■Major areas: plant construction /civil works /building construction
* In May 2011, construction BG and EPC sector of power BG were integrated.
(Unit: KRW in billions)
’08 ’09 ’10Backlog 2,722 2,792 3,823Orders 1,513 1,017 2,457Revenue 759 946 1,227
*The sales for each unit do not include resultsfrom overseas subsidiaries.
OUR BUSINESSESDoosan
Heavy Industries& Construction
POWER
The Power Plant Division operates as an engineering, procurement and construction(EPC) contractor, performing all processes in house, from engineering design to materials fabrication, facility installation, commissioning and construction. Originaltechnologies and essential production facilities for three major areas-boilers, turbinesand generators have been secured with the recent acquisition of Doosan Babcock inthe UK and Skoda Power in the Czech Republic. We have led the HRSG market with anaverage 14.5% share over the past ten years, from 2001 through 2010.
■Major areas: boilers /turbines & generators /conveyance equipment
(Unit: KRW in billions)
>
’08 ’09 ’10Backlog 5,773 4,778 9,650Orders 3,833 2,430 7,823Revenue 3,488 3,423 2,951
>
NUCLEAR POWER PLANTS
(Unit: KRW in billions)The Nuclear Power Plant Division is equipped with a fully integrated production and manage-ment system that covers materials procurement, component design, fabrication, maintenanceand repair & replacement services. The Division expanded into the overseas nuclear powermarket in the late 1990s and has won orders for reactors, steam generators and other mainequipment for nuclear power plants from the US and China. Doosan Heavy Industries &Construction was selected to supply the nuclear steam supply system (NSSS) for a massivenuclear power plant project in the UAE awarded to Korea Electric Power Corp. at the end of2009. In 2010, the Division manufactured its first next-generation nuclear power plant, the APR 1400, and completed the R&D for a nuclear power plant man-machine interface system (MMIS) and reactor cooling pump (RCP). ■Major areas: reactor vessels/reactor vessel internals /steam generators /balance of plant
’08 ’09 ’10Backlog 2,375 3,315 4,372Orders 1,230 1,716 2,275 Revenue 570 776 1,219
27
CASTINGS & FORGINGS
(Unit: KRW in billions)The Castings & Forgings Division began operating in 1982 and today it is capable of producing materials and parts for power plants and steel mills, crankshafts for marine engines, mold and tool steel, and various items for industrial use.
The Division has continued to identify new product candidates for Doosan in 2010,and low-pressure turbine rotor shafts were added to the divisions list of "World Best Product” categories, which now numbers six.
■Main products: materials and parts for power plants /parts for ships andmarine engines /iron- & steelmaking equipment /mold & tool steel
*The sales for each unit do not include resultsfrom overseas subsidiaries.
OUR BUSINESSESDoosan
Heavy Industries& Construction
WATER PLANTS
(Unit: KRW in billions)Doosan Heavy Industries & Construction won its first order in the Middle East back in1978. The technologies and operational competencies developed since then havemade the company the world leader in the desalination plant business. The WaterBusiness Group is diversifying its business portfolio by entering the water treatmentmarket through a strategic alliance with Carollo, the largest water treatment engineeringfirm based in the US. Overseas, the Water Business Group has solidified its position asa leading global builder of desalination plants by winning the contracts for Ras Az Zawrproject, the world's largest desalination plant and the Yanbu MED project, the world'slargest unit-capacity MED plant in 2010. ■Major areas: MSF desalination units /reverse osmosis (RO) plants /
multi-effect distillation (MED) systems
’08 ’09 ’10Backlog 1,429 838 2,143Orders 1,632 35 1,744Revenue 320 626 435
’08 ’09 ’10Backlog 524 538 566Orders 713 846 801Revenue 662 728 774
SKODA POWER
Skoda Power owns original technologies for 50Hz steam turbines, which represent 85 percent of global turbinedemand. The company has been producing turbines since 1904 and has supplied more than 450 units to customersin 62 countries to date. Skoda Power boasts world-class competitiveness in turbine design and fabrication as well as in upgrading, maintenance and repair services.
DOOSAN CHENNAI WORKS
Chennai Works, which joined the Doosan Group in 2011, is a manufacturer of boilers for coal-fired thermal powerplants. The company is located in Chennai, India. Major products include water walls, coil, and headers for boiler systems with capacities of 300MW and lower. Via Doosan Chennai Works, Doosan is ready to offer optimal solutions and services tailored to the local needs of the Indian market.
DOOSAN POWER SYSTEMS (DPS)
Doosan Power Systems (DPS) serves the American and European power generation markets. The strong competitiveness of Doosan Babcock in the UK and Skoda Power in the Czech Republic is allowing Doosan to make inroads into the market for boiler, turbine and generator (BTG) packages.Of note, Doosan Babcock possesses original technologies for boiler design, engineering and production. The companyhas world-class competitiveness in low-carbon power generation, which includes oxygen-enriched combustion.
OVERSEAS SUBSIDIARIESDoosan
Heavy Industries& Construction
>
>
>
>
29
DOOSAN VINA
Doosan Vina is a global production base inside the Dung Quat Industrial Complex in Vietnam. Completed inMay 2009 after more than two years of construction, Doosan Vina has 5 production plants and is fully equipped withits own port and harbor facilities. The plants produce boilers, HRSGs, sea water desalination plants and transportationfacilities. Doosan Vina aims to raise productivity to that of the Changwon plant by 2011 by cultivating local technicalpersonnel and improving efficiency. Doosan Vina also plans to achieve $330 million in sales by 2020.
DOOSAN ENGINEERING & SERVICES
In September 2008, Doosan concluded a strategic alliance with Burns and Roe, a world-class power plant engineering firm, to bolster engineering competencies. This partnership brought about the establishment of Doosan Engineering & Services (E&S) in New Jersey, U.S. Doosan E&S serves as a conduit for engineering technologyand know-how from Burns and Roe.
DOOSAN IMGB
Established in 1963, the company is the largest forging and casting company in Romania with an annual productioncapacity of 140,000 tons. With a 13,000-ton press, Doosan IMGB has secured world-class competitiveness in the area of water power plants, mainly exporting to Europe, America and China.
OVERSEAS SUBSIDIARIESDoosan
Heavy Industries& Construction
The people at Doosan Heavy Industries & Construction recognize that technology will determine the future and are dedicated to developing technology forexclusive products. Core research areas include thermal and nuclear power generation as well as various water-related areas. At the same time, the companyis also making a significant investment on the development and commercialization of low-carbon power generation technologies and new & renewableenergy sources to help address the problems of fossil fuel depletion and global climate change.
The in-house R&D center was initially established in 1984. In 2005, new facilities were opened at Daedeok Innopolis (a research complex at Daejeon) andYong-in Suji to work on technologies that can become future business opportunities. The following year, water R&D centers were then established in Dubaiand Tampa, Florida (U.S.). Doosan Babcock, which was acquired in 2006, also opened a new R&D facility in 2007.
Power Water Nuclear Green TechnologyMajor - Boilers, turbines - MSF - MMIS comprehensive - CCSResearch - System engineering - MED performance inspection - Advanced Coal Power PlantsAreas - Forged shells - Hybrid equipment - Renewables
- Single-piece heads - Improved reactor core- Back-up rolls protection, core protection
calculators
Research - Power Generation System - Mideast R&D Center - Yong-in Suji R&D Center - Doosan Babcock R&D Center - HTC PurenergyOrganizations Development Center - American R&D Center - Fuel Cell Development Center - Wind Power Technology Team
- Materials Development Center - Future Business Technology Development Center
Major Facilities - Turbine performance testing - RO, MED pilot testing - Nuclear Instrumentation - OxyCoalTM Clean Combustion Testing - Fuel Cell Testing Laboratory& Control Laboratory - CO2 Capture Test Facility (ERTF_Emission Reduction Test Facility)
PCC Oxy-fuel IGCC Wind Power Fuel Cells
- After combustion, CO2 is sepa-rated from the other emissions(N2, O2, SOX, NOX) and cap-tured.
- In Sept. 2008, Doosan Heavysecured proprietary technologiesby purchasing an equity stake inHTC of Canada and signing a tech-nology sharing agreement.
- Pure oxygen is injected into thecoal furnace, rather than air,reducing all emissions to CO2,which is easy to capture.
- Doosan Babcock successfullytested a commercially- viable40MW OxyCoalTM clean combus-tion test facility in July 2009.
- The coal at the power plant isgasified and refined beforebeing used as fuel.
- A 300MW IGCC Plant has beenunder Design in associationwith Doosan, Korea WesternPower and others since 2006.
- Asia's first 3MW offshore windpower generation system hasbeen developed.
- A pilot wind farm was completed on Jeju Island inOctober 2009.
- Acquired internationalcertifica-tion from DEWI-OCC in 2010
- Proprietary technology is underdevelopment (2007-10) on ahigh-efficiency 300KW MCFCstack and system.
- Proprietary Multi MW ClassMCFC system for hybrid plant isalso being developed(2008-2013).
CCS Advanced Coal Power Plant Renewable
RESEARCH & DEVELOPMENTDoosan
Heavy Industries& Construction
31
NETWORKDoosan
Heavy Industries& Construction
Total119,914 (100.0%)
Doosan Power System Europe, Essen, Germany
Frankfurt Office, Germany
Skoda Power
Riyadh Office,Saudi Arabia
Doha Office, QatarAbu Dhabi Office,UAE
Middle East Operations Center, Dubai, UAEDoosan Water Dubai R&D Center
Dubai OfficeDoosan Chennai Works Pvt.,LtdChennai Office, IndiaHyderabad Office, IndiaMumbai Office, IndiaNew Delhi Office, India
Doosan Engineering & Service, Montvale, USASchenectady Office, New York, USAWindsor Office, Connecticut, USA
Doosan Heavy Industries America Corp., New Jersey, USADoosan Engineering & Services, New Jersey, USA
Pittsburgh Office, Pennsylvania,USA
Middle East86,229 (71.9%)
Europe8,669(7.2%)
Asia1,116(0.9%)
India15,677 (13.1%)
U.S 523(0.4%)
China787
(0.7%)
Elsewhere6,912 (5.8%)
Doosan Power System, Crawley, UK
Doosan Power System, Renfrew, UK
Cairo Office, Egypt
Jakarta Office, Indonesia
Sydney Office Santiago Office, Chile
>
Kuwait Office, Kuwait
Doosan IMGB, RomaniaDoosan Heavy Industries Japan Corp., Tokyo, Japan
Beijing Office, china
Taipei Office
Doosan Heavy Industries Vietnam(Doosan VINA)
Hanjung Power Papua New Guinea
Doosan HF Controls, TX, USA
Doosan Hydro Technology, Tampa, USADoosan Waer Tampa R&D Center, USATampa Office,USA
Doosan Power Systems, America Ltd.
Hanoi Office
Shanghai Office
Bangkok Office
Overseas Orders in 2010(Unit: KRW in billions)
Doosan Heavy Industries Vietnam Haipong
Doosan InfracoreGlobal ISB Innovator
Contents34 2010 Snapshot35 Overview36 Our Businesses40 Research & Development41 Network
2010 SNAPSHOTDoosan Infracore
(Unit: KRW in billions, persons)
(Unit: KRW in billions)SALES
OVERVIEW
FINANCIAL HIGHLIGHTS(Unit: KRW in billions) ('11(E): IFRS)
G.total 7,954 100.0%
2010
Construction Equipment 5,953 74.8%
Machine Tools 1,030 13.0%
Forklifts 468 5.9%
Engines & Materials 503 6.3%
Sales EBIT Market Cap.
Sales7,954
EBIT653
Market Cap.4,717
Total No.of Employees
12,870
4,4355,538
7,954
9,403
’08* ’09 ’10 ’11(E)
342
-232
653
922
’08 ’09 ’10 ’11(E)
2,4472,752
4,717
’08 ’09 ’10
* DII Icluded
The figures starting from 2009 include results at DII* Excluded DST from 2008
35
Doosan Infracore started out as Chosun Machine Works in 1937 and has led the development of theKorean machinery industry as its largest machinery maker. In Korea, the company operates a productionplant in Incheon, and two in Changwon, and one in gunsan that produce construction equipment,machine tools and diesel engines for sale at home and abroad.
Doosan Infracore is also a global enterprise with local factories for excavators, and machine tools inEurope and China. In addition, local sales subsidiaries and large-scale dealer networks are also in place inthe US, UK, Germany, China, India, Japan, Brazil and other countries.
In November 2007, the company laid the groundwork for rapid global expansion by acquiring three unitsfrom Ingersoll-Rand in the US, including Bobcat, the world's most competitive maker of compact construction equipment.
OVERVIEWDoosan Infracore
OUR BUSINESSESDoosan Infracore
CONSTRUCTION EQUIPMENT
Doosan Infracore is the construction equipment arm for Doosan and leads Doosan's infra-structure support business (ISB) segment, our growth engine and important bridgeheadfor global business expansion. Since the company first developed its own excavatormodel in 1985, Doosan Infracore has continued to expand its business domain and productlineups, securing the top market position in Korea’s construction equipment industry. Inaddition, Doosan Infracore's global operations keep expanding with Bobcat for compactconstruction equipment, Montabert for attachments and Doosan Infracore Portable Powerfor air compressors.
■Major products: excavators /wheel loaders /skid steer loaders /compact loaders /
mini-excavators /telescopic handlers /air compressors /
articulated dump trucks (ADT)
Doosan currently operates large-scale factories in Korea, China, and Belgium to produce DX excavators, DL wheel loaders,zero-tail-swing excavators and other construction equipment. We have also established numerous overseas sales subsidiariesand branches as well as a worldwide dealership network, making us a truly global player in every respect. Importantly, in China,we boast the largest aggregate excavator sales of any manufacturer and have been ranked first in customer satisfaction for 7consecutive years.
•Doosan
Based in North Dakota, Bobcat Company was the first to develop compact construction equipment and has remained solely committed to this business for more than half a century. Bobcat has a global production system that spans North America, Europe and Asia, with a product lineup that includes skid-steer loaders, mini excavators, mini track loaders, compact track loadersand telescopic tool carriers. The highly popular Bobcat brand of equipment is supplied to work sites around the world.
•Bobcat
(Unit: KRW in billions)
AP/E(Asia Pacific, Emerging region) 1,169 / 19.6%NA (North America) 1,193 / 20.0%China 2,348 / 39.4%EMEA (Europe, Middle East, Africa ) 840 / 14.1%Others 403 / 6.8%
’08* ’09 ’10Sales 2,132 4,184 5,953EBIT 132 -213 490
’10
Sales Breakdown
(*08 DII excluded )
37
OUR BUSINESSESDoosan Infracore
Doosan Infracore has three outstanding brands: Montabert, Tramac and Geith. The 50-year-old Montabert line encompasseshydraulic rock breakers, demolition attachments, pulverizers, rock drill attachments and other machinery used in construction anddemolition. Hydraulic rock breakers, demolition tools, vibration compactors and cutting heads are sold under the Tramac brand,while Geith products are attached to excavators, wheel loaders, track loaders and backhoes for construction, excavation, demolition and scrap iron recovery.
•Attachments
Portable Power is 140 years old and produces compressors, generators, lighting systems and other items famous for reliabilityand durability. Our lineup offers innovative solutions for manufacturers, builders and mining companies. Portable Power's prod-ucts have played important roles in the maintenance of world-famous structures such as Mt. Rushmore, the Hoover Dam, theGeorges Dam and the Channel Tunnel. Currently, Portable Power enjoys the top share of the world market for air compressors.Portable Power is responding to changing needs at work sites by adding smaller, lighter models as well as concrete equipment,truck-mounted equipment and portable security systems.
•Portable Power
Headquartered in Molde, Norway, Doosan Moxy possesses the patented technology for articulated dump trucks (ADTs) rangingfrom 23 to 46 tons. A sales subsidiary in the U.S. and R&D Center in Norway are helping the company to increase market share inNorth America and Europe. ADTs are required equipment in the development of large mining sites and construction on rugged terrain.
•Doosan Moxy
OUR BUSINESSESDoosan Infracore
The Machine Tools Division has cutting-edge technology and produces world-class machinetools. The Division has remained committed to R&D since entering the business in 1976,developing its first turning center model by 1980 and subsequently coming out with numer-ous high-precision machine tools. Doosan Infracore is advancing towards is the world’sthird ranked machine tool maker and has received various certifications for quality controland environmental management, including ISO 9001, ISO 14001, CE, UL, EMI and EMC.
■Major products: turning centers /machining centers /ultra-precision aspheric turning centers /CNC boring machines /electric discharge machines /5-axis machining centers /flexible manufacturing systems /machining systems /assembly systems
(Unit: KRW in billions)
’08 ’09 ’10Sales 1,076 508 1,030EBIT 115 -60 81
Sales Breakdown
’10
MACHINE TOOLS
Global :570 / 55.3%
Domestic:460 / 44.7%
Doosan Infracore began producing diesel engines in 1958. Today the Engine & MaterialsDivision produces various diesel engines for buses, trucks and industrial uses in a large factorywith shops for engine assembly, materials, parts fabrication and machining. The mass-produc-tion operation was built in 1975, and the first proprietary engine models were completed adecade later. The Division developed its first Euro-4-compliant diesel engine in 2007. In 2008,the Engines & Materials Division established a compressed natural gas (CNG) engine factory inthe United States, followed by a factory with annual output of 50,000 diesel engines in Xuzhou,China. Production is slated to start in late 2011.■Major products: diesel engines for commercial vehicles /construction equipment /
generators /ships and diverse gas engines; castings for engines and vehicles /materials for hydraulic parts
’08* ’09 ’10Sales 456 450 503EBIT 48 49 62
(Unit: KRW in billions)
Sales Breakdown
’10
ENGINES & MATERIALS
Global :244 / 48.5%
Domestic:259 / 51.5%
*08 parts business excluded
39
OUR BUSINESSESDoosan Infracore
Production Capacity in 2010
Construction 12,500 excavatorsEquipment 1,900 wheel loaders
*Gunsan Plant : 1,300 excavators
Machine Tools 10,560 turning centers &machining centers
Engines & 75,000 diesel engines Materials
Annual OverseasProduction
Annual DomesticProduction
Construction EquipmentChina 22,600 excavators
6,500 wheel loaders
North 22,400 skid steer loaders America 9,600 compact track loaders
7,200 mini excavators
Europe Norway_ 240 ADTsBelgium_ 1,200 excavatorsCzech_ 10,000 skid steer loaders
5,200 mini excavators570 compact track loaders
Machine ToolsDIY 1,800 turning centers &(China) machining centers
•Reliability Evaluation Center : Tasked with ensuring the reliability of excavators, forklifts, machine tools and diesel engines duringevery stage of development. It is the largest institution of its kind in Korea, with 13 state-of-the-art laboratories for ensuring world-class product quality.
•R&D projects : Focusing on basic technologies for raising the competitiveness of current products, advanced eco-friendly technolo-gies to satisfy tighter fuel efficiency regulations; intelligent, highly emotional technologies oriented for future customer value.
•Global R&D synergy : Global construction equipment engineering alignment activities create synergy through sharing andexchanging global R&D capabilities for construction equipment at Doosan Infracore operations around the world.
Global Top 3 Construction Equipment Maker
Construction Equipment•Mass produced new hybrid excavator
and forklift models•Technology for lightening the front of
excavators (completed R&D, to beapplied in V38 front mass production)•Tier-IV-compliant mid- and large-sized
excavators/wheel loaders andintegrated control device•New hydraulic system for Tier-IV-
compliant excavators•Multimedia integrated display•Tele-management system (TMS) for
construction equipment
•2 models for Bobcat's next-generationarticulated excavators (Sirius MEX E14,E16)•3 models for Bobcat's next-generation
M-Series excavators (E42, E45, E50) and2 loader models (S850, T870)•4 models for Bobcat's Utility Vehicles
(3200, 3400, 3450, 3400XL)•4 models for Bobcat's Telescopic
Handlers (TR35160, TR45190, TR50210,TR40250)
Future-oriented technology that will propel Doosan Infracore into the world's Top 3 ISB players.
2010 R&D Achievements by Business
RESEARCH & DEVELOPMENTDoosan Infracore
Steady expansion of R&D breakthroughs: eco-friendly, intelligent, and
highly emotional technologies
Reinforcement of fundamental technologies:better durability, higher productivity,
in-house designs
Enhancement of R&D infrastructure: advanced R&D processes and a
global R&D network
Engines & Materials•Green engine technology to comply
with stricter emissions regulations•Euro-V-compliant diesel engines and
natural gas engines for commercialvehicles•US2010-compliant CNG engines•1500hp engine for battle tanks
Machine Tools•Interactive CNC program•Technology to reduce disturbances in
feed system•Technology to reduce turning center
thermal displacement •Horizontal machining center for
powerful cutting (NHM8000)•3-axis bridge machining center
(BM2740P)•Compact NC boring machine (DBC110S) •Mid-sized (PUMA 3100) and heavy-duty
(PUMA 700XLY) turning centers•Mid-sized Swiss turn (PUMA ST32G)
41
NETWORKDoosan Infracore
Sales(Unit: KRW in billions)
Sales Subsidiaries BranchesProduction Subsidiaries Holding Company, China
Geith International Ltd.
EMEA Doosan Infracore Construction Equip. HQ
Doosan Moxy AS
Doosan Infracore Europe S.A. (Construction Equip.)Doosan Infracore Germany GmbH. (Machine Tools)
Montabert Lyon
Doosan Bobcat Manufacturing s.r.o.
Doosan South Africa(Construction Equip.)
Doosan Infracore America Corp. (Machine Tools)Bobcat CompanyBobcat CompanyBobcat CompanyBobcat CompanyBobcat CompanyDoosan Infracore America (Engines)
Doosan Infracore China Co., Ltd. Xi’an Branch
Xuzhou Xugong Doosan Engine Co., Ltd.Doosan Infracore China Co., Ltd. (Construction Equip.)Doosan Infracore Machine Tools Yantai Co., Ltd.
Doosan Infracore China Investment Co., Ltd.Doosan Infracore China Co., Ltd. (Forklifts)Doosan Infracore China., Ltd. Shen Yang Branch
Doosan Infracore Machine Tools Yantai Co., Ltd.
Doosan Infracore Suzhou Co., Ltd. (Construction Equip.)
Bobcat Corp. Japan
Doosan Infracore China Co., Ltd. (Construction Equip.)Doosan Infracore Shandong Co., Ltd. Doosan Infracore Machine Tools Yantai Co., Ltd.
Doosan Infracore China Co., Ltd. HeFei Branch Doosan Infracore China Co., Ltd.Cheng Du Branch
Doosan Infracore China Co., Ltd. (Engines)Doosan Infracore Machine Tools Yantai Co., Ltd. Guangzhou OfficeDoosan Infracore China., Ltd. WuHan Branch
Doosan Infracore India Pvt.Ltd. (Construction Equip.)Doosan Infracore India Technical Center(Machine Tool)
Doosan International South East Asia Pte Ltd. (Construction Equip.)
Doosan Infracore Portable Power
Doosan Infracore Construction Equip. North America HQ
Doosan Infracore International Doosan Infracore Colombia Office (Construction Equip.)
Doosan Infracore do Brasil Servic os de SuporteComercial Ltda. Doosan Bobcat Chile S.A.
Doosan Infracore Russia (Construction Equip.)
Doosan Portable Power JapanDoosan Infracore Japan Corp.
NA/ONorth America & Oceania
16,414
EMEAEurope, the Middle East & Africa11,367
AP/EAsia-Pacific & Emerging Markets26,026
China25,734
Total79,541
Doosan Engineering & Construction Beginning a brighter world
Contents44 2010 Snapshot45 Overview46 Our Businesses
(Unit: KRW in billions, persons)
(Unit: KRW in billions)SALES
OVERVIEW
FINANCIAL HIGHLIGHTS(Unit: KRW in billions) ('11(E): IFRS)
G.total 2,696 100.0%
2010
Civil Works 528 19.6%Plants 91 3.4%Building Works 1,666 61.7%CPE 331 12.3%Steel Bridges 74 2.8%Others 6 0.2%
Sales EBIT Market Cap.
Sales2,696
EBIT64
Market Cap.749
Total No.of Employees
1,509
2010 SNAPSHOTDoosan
Engineering& Construction
1,9402,310
2,6962,859
’08 ’09 ’10 ’11(E)
114 115
64
’08 ’09 ’10
424534
749
’08 ’09 ’10’11(E)
115
45
OVERVIEWDoosan
Engineering& Construction
Doosan Engineering & Construction has acquired extensive experience and technology since its establishment in 1960, laying thegroundwork for social and economic advancement for half a century. The company has carried out projects of specially noted ‘HaeundaeDoosan We’ve the Zenith’ the tallest 80 story residential building in Korea, the first privately funded subway ‘New Bundang subway line’at Seoul metropolitan area, and numerous plant construction projects in energy, environment, industrial, storage facility fields in both thedomestic and overseas markets.
Through the merger with Mecatec in 2010, Doosan Engineering & Construction gained its leverage on expansion of business portfolio toprocess equipment fabrication business, and continues to strengthen the overseas business with its global leading experience in chemicalprocess equipment(CPE) and steel bridge construction.
OUR BUSINESSESDoosan
Engineering& Construction
Architecture is an art form. Without the support of construction technology, architectural masterpieces would not be possible.Doosan E&C applies advanced technological prowess coupled with superb creativity and aesthetic sensibility to creat spacesof great artistic value. At the same time our unique styling puts the finishing touches on spaces that beautify the worldaround them. The 'Doosan We've' apartment brand is setting new trends in modern living, and our rising brand power provides us with outstanding competitiveness in apartment redevelopment and reconstruction projects. We have built massive residential and commercial structures in Korea's capital region as well as in Busan, Taegu and other major provincialcities, introducing advanced residential culture.
■Major products: residential facility /commercial facility /remodeling /commercial-residential highwise
Doosan E&C is capable of performing all aspects of civil works projects, from engineering and construction to mainte-nance and management. The project portfolio includes high-speed railways, subways, roads, bridges, land preparation,land reclamation, and ports. We have laid more highspeed rail track in Korea than any other builder, and we applied thenation's largest diameter shield construction method when building Section 909 of Seoul Metropolitan Subway Line 9.
■Major products: load /highway /railway /subway /tunnel /port /airport /reclamation
CIVIL WORKS
PLANTS
BUILDING WORKS
Doosan E&C competes head to head with worldclass builders in the construction of facilities to protect the environmentas well as industial facilities that provide the foundation for national competitiveness. Our involvement in energy andenvironmental plants help nature, people, society and industry to come together as partners for more beautiful world. We have built low-temperature liquefied gas storage tanks and gas processing plants in many countries.
■Major products: chemical and energy plant /environmental plant /industrial plant
OUR BUSINESSESDoosan
Engineering& Construction
Doosan E&C has acquired a privilege of being Global No.1 received orders in large and ultra-large chemical processequipment. Our strategically located and cutting edge factories in Korea and Vietnam, enable us to provide large sizetowers & columns, customized reactors, heat exchangers and pressure vessels with accumulated fabrication techniques.Doosan E&C became the first Korean company to be qualified as a heavy wall reactor (reactor made of special materialssuch as forge vanadium) fabrication for Chevron, one of the world's largest oil refiners. The company was also registered inBrazilian national company Petrobras CRCC, within the shortest time period, proving its excellence of CPE all over the world.
■Major products: tower /column /reactor /pressure vessel /heat exchanger /module* Manufacture &delivery of CPE forrefineries, gas processing plants, and petrochemical plants.
Acquired ASME stamps (A,PP,U,U2,S) and ISO 9001 certification
CHEMICAL PROCESS EQUIPMENT(CPE)
STEEL BRIDGES
Doosan E&C has been recognized as an outstanding long span bridge builder for its superb performance and quality. Our modern facilities, unique design program and various experiences, with a complete 'design-fablicate-installation'process. We advanced into overseas markets for specialty bridge construction and are diversifying our portfolio to includebulk material handling equipment.
■Major products: suspension bridge /russ bridge /cable-stayed bridge /arch bridge
* Leader in Korea’s market for specialty bridges: suspension, truss and cable-stayed girderMajor projects: Gwangan Bridge, Youngjong Bridge, Machang Bridge
47
Contents49 2010 Snapshot50 Our Businesses
Doosan EngineIntegrated Diesel Engine Manufacturer
49
(Unit: KRW in billions, persons)
(Unit: KRW in billions)SALES
OVERVIEW
FINANCIAL HIGHLIGHTS(Unit: KRW in billions) ('11(E): IFRS)
2010Low Speed Diesel Engines 1,537 88.8%
Medium Speed Diesel Engines,Others 195 11.2%
Sales1,731
EBIT233
Total Assets1,953
Total No.of Employees
1,280
Sales EBIT
2010 SNAPSHOTDoosan Engine
1,7351,773
1,731
2,019
114 115
233
260
’08 ’09 ’10 ’11(E) ’08 ’09 ’10 ’11(E)
G.total 1,732 100.0%
Doosan Engine is one of the world's foremost builders of low and medium speed marine engines ranging from 700bhp to 115,000bhp, as well as diesel generator engines with maximum output capacities of 200MW. The company now has the world's highest annual productioncapacity (the equivalent of 12 million bhp) and a 25% share of the world market. Doosan started out in 1984 with an annual capacity of200,000 bhp and achieved the aggregate production milestone of 70 million bhp in November 2010, a new industry record. The company hasalso built the world's largest electronically-controlled marine engine.
Low speed diesel engines are amainstay product category, builtin technical cooperation withMAN Diesel of Denmark andWartsila of Switzerland since1983. These engines are usedas the main propulsion systemfor large containerships, bulkcarriers, very large crude carriers,ultra-large crude carriers andother product carriers.
Low Speed Diesel Engines
This operation was launchedunder a technical license fromMAN Diesel SA of France in1983. The lineup, which rangesfrom 450 to 24,000 kW,includes the main and auxiliaryengines on passenger shipsand special-purpose vessels aswell as engines for commercialor emergency power generation.
Medium Speed Diesel Engines
Doosan Engine entered thediesel power plant business in1990 with a turnkey project tosupply a 40MW low-speeddiesel power plant to southernJeju Island. Since then, we builtan 80MW low speed dieselpower plants on Guam andcompleted power plant projectsin Papua New Guinea, India,Greece and Eritrea.
Diesel Power Plants
The global sales network isused to supply customers withparts whenever and whereverthey are needed.
Parts Sales & Technical Service
OUR BUSINESSESDoosan Engine
Contents52 2010 Snapshot53 Our Businesses
Doosan Capital/NeopluxTrusted Financial Services Partner
2010 SNAPSHOTDoosan Capital
Operating Revenue224
EBIT-51
Financial Assets2,405
Total Assets2,669
No.of Employees
253(Unit: KRW in billions, persons)
(Unit: KRW in billions)SALES
OVERVIEW
FINANCIAL HIGHLIGHTS(Unit: KRW in billions) ('11(E): IFRS)
G.total 2,405 100.0%
2010
Equipment Leasing 1,456 60.5%
Installment Finance 291 12.1%
General Loans 422 17.5%
Factoring 102 4.3%
Project Financing 124 5.2%
Others 10 0.4%
OperatingRevenue EBIT
FinancialAssets
369
273224 256
’08 ’09 ’10 ’11(E)
9
3-51
20
’08 ’09 ’10 ’11(E)
1,9062,006
2,4052,674
’08 ’09 ’10 ’11(E)
53
Since Doosan Capital was founded in 1995, our financial soundness has allowed us to secure leadership in domestic equipment financing. We cover various services from equipment financing (including installment loans and leasing) to general commercial financing (including project financing, factoring, corporate loan, venture capital). Our Chinese subsidiary, Doosan China Financial Leasing Corp. (DCFL) strives toprosper in the Chinese financial market by providing competitive products & services in construction equipment. We will continue to cultivatetalent and expand in the US and Europe to serve as a reliable partner who reciprocates trust.
Doosan Capital covers purchase cost for items onbehalf of the buyer, whorepays the principal andinterest in an agreed numberof installments.
Installment Finance
Doosan Capital directly purchases machinery equipment or other facilitieschosen by the client and leases the products back tothe client for a prearrangedleasing fee.
Doosan Capital providescompanies with operatingcapital through credit loansor mortgage loans.
In addition to purchasing tradereceivables (bill claims andaccounts receivable),Doosan Capital manages tradereceivables, does the account-ing on trade receivable andprovides management consult-ing to help companies main-tain sufficient capital and runtheir businesses.
Equipment Leasing Corporate Loans Factoring
OUR BUSINESSESDoosan Capital
As an investment firm specializing in venture capital, corporate restructuring, and operations consulting, Neoplux offers direct investmentand related services. In 2002, we organized Korea’s first secondary fund, the Pre-KOSDAQ Secondary Investment Partnership, which primarily invests in stocks held by venture capitalists. We now operate funds totaling W800 billion on behalf of institutional investors.We also offer optimal solutions to corporations and investors that need incubation funds for startups and buyout funds for distressedmedium-sized companies with an excellent turnaround potential. Our consulting unit offers systematic and professional services to helpclients elevate operations to a world-class level.
Neoplux is engaged in a widerange of investment andfinance activities. Theseinclude the corporate restruc-turing business, which involvesidentifying promising compa-nies and participating directlyin them, and consulting servic-es on mergers and acquisi-tions.
Neoplux also targets newlystarted companies with excel-lent people and technology butlacking in capital. The firm helpsthese venture companies togrow and nurtures them intoviable businesses, thereby gen-erating return on investment.
Neoplux applies a wealth of experience and expertise to offerconsulting services for eliminatinginefficiencies in overall operations,from design and R&D to procure-ment, production, logistics andsales through its various consult-ing experience and sophisticatedspecialization. In the process, customers’ business resultsimprove, along with their corporate value.
Corporate Investment Venture Capital Consulting
OUR BUSINESSESNeoplux
Contents56 Our Businesses
Other BusinessesBrand Heritage that Fuels our Growth
Doosan Bears
The Doosan Bears baseball club won the Korea Series in 1982, the first year for professional baseball inKorea. This storied team has continued to help develop professional baseball in the country. The Bearswon the championship again in 1995 and 2001. A new corporate identity and mascot were unveiled in2010, and new iPhone applications and a mobile homepage for smartphone users were launched toenhance communication with fans.
Doosan Dong-A
No.1 textbook publisher in Korea, Doosan Dong-A has played an important role in the advancement of education in Korea by developing and distributing: textbooks, educational materials for preschool students,reference books for elementary, middle, and high-school students, language learning texts, more than 60 different dictionaries (including electronic dictionaries), and various educational publications. Thanks to ongoing R&D, our printing business has gained a reputation among domestic and overseas customers for high-quality books, labels, packaging, efficient order handling, and quick turnaround times.
Doosan Magazine
Doosan Magazine has a license agreement with Conde Nast Publications of the US to publish and distributepremium magazines in Korea that feature distinctive concepts and target-specific readerships. Our titlesinclude the Korean editions of VOGUE the ‘Fashion Bible’, GQ the men’s lifestyle magazine, VOGUE GIRL theNo. 1 young fashion magazine, ALLURE the beauty and lifestyle magazine and W the unique and intelligentfashion magazine, with oversize pages and stunning photography. Each publication is the leader in theirrespective market segments.
OUR BUSINESSESOthers
57
Oricom
Oricom was established in 1967 as Korea’s first comprehensive advertising agency and has maintained astrong position over the last 40 years for creativity and strategic expertise. The firm offers integrated marketing communication services, including media planning, promotional marketing, public relations,Internet marketing, and brand consulting. Oricom has worked with many multinational companies whenthey launched their campaigns in Korea and offers marketing communications services to clients worldwide.
Doosan Feed & Livestock
With acquired experience and technology over four decades, Doosan Feed & Livestock produces more than 120 types of mixed livestock feeds. Our manufacturing system is fully automated from the initialstage of material input to final production, and has an annual output capacity of 360,000 tons. We haveestablished a product safety management system for livestock products in cooperation with the KoreanStandards Association (KSA) in 2003.
Doosan Tower
DOOTA (for "Doosan Tower") underwent a massive renovation in 2009 to celebrate its tenth anniversary andprovides the ideal "one-stop" shopping experience. Over 20 million domestic and overseas customers areattracted each year to the diverse and unique product selection at more than 550 retail outlets. DOOTA wasfirst in its industry segment to introduce fixed price tags. The company runs the certified "Best Store" program,an information center for foreign shoppers, and floor manager system as part of innovative approaches beingtaken to ensure customer satisfaction.
OUR BUSINESSESOthers
Doosan Cuvex
Established in 1987, Doosan Cuvex is a specialized leisure company committed to providing the bestservice to customers. The company operates Ladena Golf Club, one of Korea's most prominent golfclubs, and Ladena Resort, a prestigious hotel-type resort. The name "Ladena," (from the words "lake,""garden," and "nature") represents the mission of Ladena Resort to provide customers with "high-classleisure activities in a natural setting that includes a pristine lake and beautiful garden."
DFMS
In 2004, Doosan Motors was selected as the first Honda dealer in Korea and now sells and services Hondavehicles inside and outside the country. The customer service system provides outstanding quality at areasonable price and is highly responsive to customer needs, exceeding their expectations to deliver thefull value that Honda has to offer. Donghyung Engineering provides the best facilities management servicebased on our experience and know-how. The company leaped another step forward under the name DFMSas it was merged with Doosan Motors in 2011.
OUR BUSINESSESOthers
Appendix
Contents60 Global Network63 Contact Information
GLOBAL NETWORKAppendix
Doosan Heavy Industries &Construction Subsidiaries
Doosan Heavy Industries &Construction Branch Offices
Doosan InfracoreProduction Subsidiaries
Doosan Infracore Holding Company, China
Doosan InfracoreSales Subsidiaries
Other Subsidiariesand Branches
Doosan Infracore Branches
Geith International Ltd.
Doosan Infracore Europe S.A. (Construction Equip.)Doosan Infracore Germany GmbH. (Machine Tools)
Doosan IMGB
Frankfurt OfficeMontabert Lyon
Doosan Bobcat Manufacturing s.r.o.
Doosan South Africa (Construction Equip.)
Doosan Infracore America Corp. (Machine Tools)Bobcat CompanyBobcat CompanyBobcat CompanyBobcat CompanyBobcat CompanyDoosan Infracore America (Engines)
Doosan Infracore China Co., Ltd. Xi’an Branch Xuzhou Xugong Doosan Engine Co., Ltd.Doosan Infracore China Co., Ltd. (Construction Equip.)Doosan Infracore Machine Tools Yantai Co., Ltd. Beiling OfficeDoosan Infracore China Investment Co., Ltd.Doosan Infracore China Co., Ltd. (Forklifts)Doosan Infracore China., Ltd. Shen Yang Branch
Hanjung Power Limited
Doosan Infracore Machine Tools Yantai Co., Ltd.
Doosan Infracore Suzhou Co., Ltd. (Construction Equip.)
Bobcat Corp. Japan
Doosan Infracore China Co., Ltd. (Construction Equip.)Doosan Infracore Shandong Co., Ltd. Shanghai Office
Doosan Infracore Machine Tools Yantai Co., Ltd.Doosan Infracore China Co., Ltd. HeFei Branch
Doosan Infracore China Co., Ltd. (Engines)Doosan Infracore Machine Tools Yantai Co., Ltd. Guangzhou OfficeDoosan Infracore China., Ltd. WuHan Branch
Doosan International South East Asia Pte Ltd. (Construction Equip.)
Doosan Engine Singapore Office
Doosan Infracore Portable PowerDoosan Infracore Construction Equip. North America HQDoosan Hydro Technology, Tampa, USADoosan Waer Tampa R&D Center, USATampa Office,USA
Doosan Infracore do Brasil Servic os de SuporteComercial Ltda.Doosan Bobcat Chile S.A.
Doosan Infracore Russia (Construction Equip.)
Beijing OfficeDoosan Infracore China Co., Ltd. Cheng Du Branch
Riyadh OfficeKuwait Office
Abu Dhabi OfficeDoha Office
Middle East Operations Center, Dubai, UAEDoosan Water Dubai R&D Center
Dubai Office
Chennai Office, IndiaHyderabad Office, India
Mumbai Office, IndiaNew Delhi Office, India
EMEA Doosan Infracore Construction Equip. HQ
>
Doosan Power System Europe, Essen, Germany
Frankfurt Office, Germany
Doosan Power System, Crawley, UK
Doosan Moxy AS
Skoda Power
Cairo Office, Egypt
Bangkok Office
Doosan VIVA, Vietnam(Doosan Heavy Industries Vietnam)
Jakarta Office, Indonesia
Sydney Office
Santiago Office, Chile
Doosan Engineering & Service, Montvale, USASchenectady Office, New York, USA
Windsor Office, Connecticut, USA
Doosan Heavy Industries America Corp., New Jersey, USADoosan Engineering & Services, New Jersey, USA
Doosan Infracore International Doosan Infracore Colombia Office(Construction Equip.)
Doosan HF Controls, TX, USAPittsburgh Office, Pennsylvania,USA
Doosan Infracore India Pvt.Ltd.(Construction Equip.)
Doosan Infracore IndiaTechnical Center(Machine Tool)
Doosan Infracore Japan Corp.Doosan Porteable Power Japan
Doosan Power System, Renfrew, UK Doosan Heavy Industries Japan Corp
Hanoi Office
Doosan Power Systems, America Ltd.
Taipei Office
Doosan Chennai works Pvt.,Ltd
61
Doosan Corporation
Electro-Materials
HONG KONGT 852 2815 2238F 852 2317 0231
SHANGHAIT 86 21 6465 9398F 86 21 6465 9658
SHENZHENT 86 755 8278 8201F 86 755 8278 8955
SINGAPORET 65 6862 6327F 65 6862 6329
TOKYOT 81 3 3452 6261F 81 3 5484 1845
TAIWANT 886 3 427 1210F 886 3 427 5583
Doosan HeavyIndustries &Construction Co., Ltd.
Overseas SubsidiariesDoosan Power Systems Ltd.11 The Boulevard, CrawleyWest Sussex, RH10 1UX, UKT 44 1293 61 2888F 44 1293 58 4816
Doosan Power Systems Ltd.(Babcock )Porterfield Road, Renfrew,PA4 8DJ, UKT 44 141 886 4141F 44 141 885 3338
Doosan Power SystemsAmericas Ltd.5 Paragon Drive, Montvale,New Jersey 07645, USAT 1 201 746 8200F 1 201 746 8610
Doosan Power SystemsEurope Ltd.Bredeneyer Strasse 2b,45133 Essen, GermanyT 49 201 4517 320F 49 201 4517 328
Skoda Power Ltd.Tylova 1/57 | 301 28 Plzen,CzechT 420 378 185 128F 420 378 185 900
Doosan Power Systems India Pvt. Ltd.NEW DELHI OFFICEDLF Building No. 8A, 3rd FloorDLF Cyber City Phase IIGurgaon 122 002,Haryana, IndiaT 91124 439 8200F 91 124 414 7007
CHENNAI OFFICEGee Gee Universal,5th Floor No. 2McNichols 600 031, IndiaT 91 44 2836 6930F 91 44 2836 6936
Doosan Chennai WorksPvt. Ltd.18/2A SenneerkuppamBypass Road, Poonamallee,Chennai 600 056T 91 44 2649 2050F 91 44 2649 4012
Doosan Hydro Technology, INC.912 Chad Lane, Tampa, Fl 33619, USAT 1 813 805 8860F 1 813 623 6092
Doosan HF Controls Corp.1624 West Crosby Road,Suite 124Carrollton, TX 75006, USAT 1 469 568 6526F 1 469 568 6589
Doosan IMGB104 Berceni Road,Bucharest 4, RomaniaT 40 21 301 3745F 40 21 301 2502
Doosan Enginering &Services Llc5 Paragon Drive, Montvale,NJ 07645, USAT 1 201 746 8200F 1 201 746 8210
Doosan Heavy IndustriesVietnam Co., Ltd. [Doosan Vina]Dung Quat Economic Zone,Binh Thuan CommuneBinh Son District,Quangngai Province,VietnamT 84 55 713 001F 84 55 713 008
Doosan Heavy Industry &Vietnam Haipong Co., Ltd.Km 92, National Highway 5,So Dau Ward,Hong Bang District,Haiphong City, VietnamT 84 31 371 2710F 84 31 371 2714
Hanjung Power Ltd.P.O.Box 2803, BorokomNCD, Papua New Guinea T 675 320 0529F 675 321 2984
Overseas BranchesAmericasDoosan Heavy Industry Industries America Corp.Parker Plaza, 10th Floor400 Kelby Street, Forth Lee,NJ 07024, USAT 1 201 944 4554 31,24F 1 201 944 5022
Pittsburgh OfficeC/O Westinghouse ElectricCompany Suite 115C,600 Cranberry Woods Drive,Cranberry Township,PA 16066, USAT 1 412 374 6071T 1 724 720 0903
Santiago OfficeNueva Tajamar 481, Oficina 1103, Las Condes,Santiago, ChileT 56 2 657 3333F 56 2 657 3343
Schenectady OfficeGeneral Electric Building 33,Room 202AOne River Road, chenectady,NY 12345, USAT 1 518 385 5218F 1 518 385 4984
Windsor Office20 International Drive,Windsor, CT 06095, USAT 1 860 731 6479F 1 860 731 6482
Tampa Office912 Chad Lane, Tampa, FL 33619, USAT 1 813 549 0182 F 1 813 623 6666
Doosan Water TampaR&D Center912 Chad Lane Tampa, Fl33619, USAT 1 813 805 8860F 1 813 623 6092
Asia & Oceania
Doosan Heavy IndustriesJapan Corp.Mita Kokusai Building,Room 24101-4-28, Mita, Minato-guTokyo 108-0073, JapanT 81 3 3452 5451~3F 81 3 3452 5624
Bangkok Office10th Floor, M-Thai Tower,All Seasons Place, 87 Wireless RoadPhatumwan, Bangkok10330, ThailandT 66 2 654 0690F 66 2 654 0693
Beijing OfficeGateway Plaza, Tower B,19th FloorNo. 18 Xiaguangli, NorthRoad, East Third RingChaoyang District, Beijing100027,ChinaT 86 10 8454 7131~33,7122F 86 10 8484 7139
Hanoi Office#1101, Daeha BusinessCenter, 360 Kim Ma, Ba DinhDistrict Hanoi, VietnamT 84 4 6273 0545F 84 4 6273 0550
Mumbai Office501, CNB Square, SangamComplex, Andheri KurlaRoad, Andheri(E), Mumbai400059, IndiaT 91 22 6177 0500
New Delhi Office515, Fifth Floor, Time Tower,MG RoadGurgaon, 122 002, Haryana,New Delhi, IndiaT 91 11 4665 3300
91 12 4665 3300F 91 11 4665 3333
91 12 4665 3333, 3345
Hyderabad Office119, 1F, White House,Block-3, 6-3-1192/1/1,Kundan Bagh, Begumpet,Hyderabad 500 016, IndiaT 91 40 6613 2444F 91 40 6613 4227
Shanghai OfficeRm 809, Building A, Far EastInternationalPlaza No. 319, Xian XiaRoad, Chang Ning DistrictShanghai 200051, ChinaT 86 21 5877 8696 F 86 21 58775938
Taipei Office7 Fl 4, No.51, Keelung RoadSection 2,Taipei, Taiwan, R.O.C.T 886 2 2739 2255F 886 2 2739 2266
Sydney OfficeSuite 2, Level 16, 201-217,Elizabeth Street,Sydney, NSW 2000, AustraliaT 61 2 9283 6114F 61 2 9283 6200
EuropeFrankfurt OfficeFrankfurt OfficeArabella Center, 9th FloorLyoner Strasse 44-48Frankfurt am Main 60528,Germany T 49 69 69 5004 11F 49 69 69 5004 10
Middle East & Africa
Abu Dhabi OfficeAl Ghaith Tower, 5th Floor,Room 508, HamdanStreet, P.O. Box 27767, AbuDhabi, UAET 971 2 627 6273F 971 2 627 6274
GLOBAL NETWORKAppendix
>
Middle East OperationsCenterMonarch Office Tower, Level 30,Sheikh Zayed Road, P.O.Box11859,Dubai, UAET 971 4 327 5545F 971 4 327 5592
Dubai Office30th Floor, Monarch OfficeTower,One Sheikh Zayed Road,P.O. Box 11859, Dubai,U.A.E.T 971 4 327 5545F 971 4 327 5529
Dosan Water Dubai R&D CenterMonarch Office Tower, Level 29,Sheikh Zayed Road,P.O.Box 11859, Dubai, UAET 971 4 327 5545F 971 4 327 5596
Kuwait OfficeOffice No. 7B, Block 4, Plot 35Laila Commercial Tower,Salmiya, KuwaitT 965-2575-2001
965-2551-8436F 965-2551-8453
965-2575-2001
Riyadh OfficeOffice No. 205 & 206, ThePlaza Building (Akariya No.4), Olaya Street, P.O.Box9656, Riyadh 11423,Kingdom of Saudi ArabiaT 966 1 419 1696F 966 1 419 1995
Doha OfficeAbdulla Al Kuwari Building,Al Muntaza Area,C Ring Road, Doha, QatarT 974 4443 5201F 974 4443 5218
Cairo Office2nd floor, Land MarkBuilding 1,Southern 90th Road(just after NATA Building,City Center, the first section)Cairo, EgyptT 20 2 2613 1038
Doosan Infracore Co., Ltd
EMEA Doosan InfracoreConstruction Equip. HQT 32 23 71 68 05
Doosan Infracore EuropeS.A. (Construction Equip.)T 32 478295266
Doosan BobcatManufacturing s.r.o.T 420 318 532 258
Montabert LyonT 33 4 72 22 97 58
Geith International Ltd.T 353 41 9824143
Doosan InfracoreGermany GmbH.(Machine Tools)T 49 2173 850910
Doosan Moxy AST 47 712 68 603
Doosan Infracore Russia(Construction Equip.)T 7 495 663 8238
Doosan South Africa(Construction Equip.)T 27 11 864 3933
Doosan Infracore ChinaInvestment Co., Ltd.T 139 1074 0224
Doosan Infracore ChinaCo., Ltd. (ConstructionEquip.)T 010 84782608
Doosan InfracoreShandong Co., Ltd. (Construction Equip.)T 138 0535 1970
Doosan InfracoreMachine Tools Yantai Co., Ltd.T 86 535 6935000
Doosan Infracore Suzhou Co., Ltd. (Construction Equip.)T 138 6204 1916
Doosan Infracore China Co., Ltd.(Construction Equip.)T 021 64400842
Doosan InfracoreMachine Tools Yantai Co., Ltd. T 021 54451155 812 815
Doosan Infracore China Co.,Ltd. (Engines)T 86 21 6440 3050
Doosan Infracore ChinaCo., Ltd. Xi’an BranchT 029 88376731
Doosan Infracore China.,Ltd. Shen Yang BranchT 024 22812783
Doosan Infracore China.,Ltd. Wu Han BranchT 027-83316519
Doosan Infracore ChinaCo., Ltd. Cheng Du Branch T 028 86026029
Doosan Infracore ChinaCo., Ltd. HeFei Branch T 0551 5178362
Xuzhou Xugong Doosan Engine Co., Ltd.T 86 0516 8773 9000
Doosan InfracoreMachine Tools Yantai Co.,Ltd. Gunagzhou OfficeE-mail :[email protected]
Doosan InfracoreMachine Tools Yantai Co.,Ltd. Chongqiing OfficeT 023 63111486
Doosan InternationalSouth East Asia Pte Ltd.(Construction Equip.)T 65 9733 8665
Doosan Infracore IndiaPvt.Ltd. (Construction Equip.)T 91 99 4064 8687
Doosan Infracore IndiaTechnical Center (Machine Tools)T 91 (0)80 4266 0110
Bobcat Corp. JapanT 81 45 532 0151
Doosan InfracoreConstruction Equip.North America HQT 1 770 353 3800
Bobcat Company/GwinnerT 1 701 678 6241
Bobcat Company/West FargoT 1 701 476 4254
Bobcat Company/LitchfieldT 1 320 693 4967
Doosan InfracorePortable PowerT 1 704 883 3586
Bobcat Company/BismarckT 1 701 222 5466
Bobcat Company/Wahpeton2101 11th St N WahpetonND 58075 USA
Doosan Infracore America (Engines)T 1 770 831 3481
Doosan Infracore America Corp. (Machine Tools)T 1 973 618 2500
Doosan Bobcat Chile S.A.T 09 138 75 10
Doosan InfracoreInternationalBlvd. Centro Industrial No.11. Tlalnepantla, Edo deMexico. C.P.54070, Mexico
Doosan Infracore doBrasil Servic os deSuporte Comercial Ltda.T 55 11 3061 3227
Doosan InfracoreColombia Office(Construction Equip.)Calle 63A No. 21-36 Oficina301 Edificio Circulo deIngenieria Bogota Colombia
Doosan Engineering &Construction Co., Ltd.
U.A.E Branch OfficeT 971 2 627 5983F 971 2 627 5984
Houston OfficeT 1 713 961 4646F 1 713 961 4647
Doosan Vina (CPE Plant)T 84 55 3618 900F 84 55 3618 954
Doosan Engine Co., Ltd.
HAMBURGT 49 40 2533 5656F 49 40 2533 5661
SHANGHAIT 86 21 6875 0876F 86 21 6875 0864
SINGAPORET 65 6222 5515F 65 6222 5525
Doosan Marine Industry(Dalian)Co., Ltd. [DMI]T 86 411 8751 7957F 86 411 8751 7956
Doosan Capital Co., Ltd.
BEIJINGT 86 10 8454 7200F 86 10 8454 7102
Doosan AdvertisingCompany
BEIJINGT 86 10 8454 7185~7188F 86 10 8454 7190
GLOBAL NETWORKAppendix
DOOSAN INFRACORE DOOSAN ENGINEERING & CONSTRUCTION
Public Relations Team e-mail: [email protected] : +82-2-3398-8410Fax : +82-2-3398-8099
CONSTRUCTION EQUIPMENT Overseas Business Planning Teame-mail: [email protected] : +82-2-3398-2558Fax : +82-2-3398-8469
FORKLIFTS Overseas Sales Support Teame-mail: [email protected] : +82-2-3398-8635Fax : +82-2-3398-8619
MACHINE TOOLS Overseas Marketing Teame-mail: [email protected] : +82-2-3398-8663Fax : +82-2-3398-8699
ENGINES & MATERIALS Overseas Marketing Teame-mail: [email protected] : +82-2-3398-8517Fax : +82-2-3398-8509
DEFENSE PRODUCTS Overseas Marketing Team e-mail: [email protected] : +82-2-3398-8191Fax : +82-2-3398-8199
DOOSAN HEAVY INDUSTRIES & CONSTRUCTIONDOOSAN GROUP
Public Relations Teame-mail: [email protected] : +82-2-3398-1494Fax : +82-2-2285-5188
DOOSAN ENGINE
IR Teame-mail: [email protected] : +86-2-3777-9724Fax : +86-2-3777-9736
DOOSAN CAPITAL
DCFL (Doosan China Financial Leasing Corp.)S&BD e-mail: [email protected] : +86-10-8454-7040 / 7044Fax : +86-10-8454-7044
DCC (Doosan Capital Co., Ltd.)Strategy Team e-mail: [email protected] : +82-2-3398-1734Fax : +82-2-3398-1804
Please contact Doosan Group Public Relations Team if you require further information regarding other businesses.
Strategy Teame-mail: [email protected] : +82-2-510-3756Fax : +82-2-510-3716
CONTACT INFORMATIONAppendix
Public Relations Teame-mail: [email protected] : +82-2-513-6223Fax : +82-2-513-6696
POWER PLANTSStrategy Teame-mail: [email protected] : +82-2-513-6288Fax : +82-2-513-6160
NUCLEAR POWER PLANTSPlanning Teame-mail: [email protected] : +82-2-513-6142Fax : +82-2-513-6678
WATER PLANTSStrategy Teame-mail: [email protected] : +82-2-513-6650Fax : +82-2-513-6690
CASTINGS & FORGINGSStrategy Teame-mail: [email protected] : +82-55-278-4833Fax : +82-55-278-8567
CONSTRUCTIONPlanning Teame-mail: [email protected] : +82-2-513-6914Fax : +82-2-513-6671
www.doosan.comDoosan Tower, 18-12, Euljiro 6-ga,Jung-gu, Seoul, Korea82-2-3398-0114