Faring Well
Doosan Infracore Co. recently won large construction equipment sales deals in emerging markets such as Myanmar, Qatar and Singapore in a row.
The company announced on December 7 that it has received orders for 40 construction equipment, including six 50-ton excavators, from a gold miner in Myanmar. The Myanmarese firm currently owns 35 units of construction equipment and it has decided to buy additional 40 machines from Doosan Infracore in order to mine a new large gold mine.
Doosan Infracore pushed into the Myanmarese construction equipment market in 2010 and recently raised its market share from 2 percent to 16 percent.
The company also obtained a contract for 30 large wheel loaders with Qatar Port Authority through an open tender at the end of last month. It is meaningful in that Doosan Infracore surpassed global competitors and won the large bid in the Middle East in where the number of large orders are decreasing due to the fall in oil prices.
In addition, Doosan Infracore signed a deal to supply 33 excavators that are needed to expand airports and construct subways in Singapore in June.
Doosan Infracore has so far sold 400 excavators through large contracts in the emerging market this year alone.