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두산밥캣, ESG 성과 담은 ‘지속가능경영보고서’ 발간
Doosan Bobcat Holds Dealer Conference in India
Doosan Bobcat India Pvt. Ltd. (‘DBIN’) conducted the first Bobcat Dealer Conference at Chennai, Jan. 23-25, 2019. It was attended by more than 90 participants from 23 dealers from India, Sri Lanka, Nepal and our management team with Area Sales & Service Managers. During the three-day program, DBIN strengthened the Partnership with channel partners by sharing key achievements in 2018 performance and this year’s strategic direction and BHL launch plan.2019-01-01
The three-day program started off with a visit to our new BHL Factory at Gummudipoondi. HW Park, Executive Vice President Doosan Bobcat Asia & Latin America and BS Ahn, Vice President of DBIN Operations were present. A tour of the state-of-art factory and production line of Backhoe Loader was given by Praveen Kumar B, head of manufacturing. The product demonstration of SSL, MEX was done by Sinto John and commentary by Arun Joshua. The BHL demonstration and commentary was by Pushparaj G.
The second day program started with a video welcome message by Scott Park, CEO & President of Doosan Bobcat. He highlighted India being one of the major focus countries for Bobcat business and how our channel partners are crucial to the strategic success and growth. In the morning session, the focus was to share about Doosan Bobcat Global Vision & Strategy in terms of Product and Geographic diversification by Mr. Daewang Kim. It also included, the DBIN Growth Strategy to become the market leader in Indian Compact construction equipment industry with product bundling, stronger channel network, and supportive commercial packages by Mr. HS Kim. DBIN introduced the progress of Bobcat BHL product development & BHL Commercial & Aftermarket launching plan.
The afternoon session started with Gaby Rhayem, MEA Director, presenting the successful launch of Bobcat BHL in Middle East Africa and the various initiatives, marketing activities, and strong channel network presented. His presentation was followed by Samir Bansal’s Off-Highways Research presentation on the Indian Compact Market Potential and Growth. From the dealer side, Marwell Enconn presented the success story of becoming a sustainable Compact dealer through sales, AM/PS, rental, buyback, refurbished used machinery sales, annual O&M contract with Government and Corporate, SSL operator training school and more.
At the closing session, HW Park, Executive Vice President Asia & Latin America, emphasized how the introduction of BHL will play an important role in India business success. He asked for their continued collaboration, passion and dedication from channel partners to become the number one company in Compact products in India.
During the conference, HS Kim, Director of DBIN Commercials, said, “We took this opportunity to highlight to our channel partners about Doosan Bobcat’s commitment to India region and our full support for successful BHL launch in this year with our reliable product.”
After the conference Mr. Prabodh Ahuja, HTE Engineers from Indore of Madhya Pradesh, stated, “The whole dealer conference program has been designed and put together with a clear idea of helping us understand the approach of Doosan Bobcat for India market. After the walk-around of factory, followed by a spectacular demonstration of BHL proto machines, I was convinced about the quality of product as well. Later during conference session after hearing about Bobcat’s strategy and commercial launch plan with respect to BHL, it leaves me without a doubt about the strong intent of Bobcat to become the Leader of Compact segment in India. Now it has become clear that we as Bobcat Channel Partners need to think the same direction to that growth and start putting our focus in place to achieve the goal together.”
During the Gala Dinner Mr. Sanjay Singhania of Gauri Enterprises, our dealer in Pune, Maharashtra, said, “It is always a good feeling to be pleasantly surprised. I have dealerships for other construction equipment brands and visited several abroad manufacturing facilities, one of the examples like Atlas Copco facility in Germany and was impressed with their amazing state of the art factory. Today after visiting Bobcat facility in Chennai, I have the same feeling. It makes me proud that Bobcat has created this amazing facility in our own India. With the kind of emphasize on quality of the process explained during the factory tour, I am absolutely confident of the quality of the BHL product and its success in the market”
The last day was one-on-one interaction with the Channel Partners accompanying DBIN management and Area Managers on the annual business KPIs and Strategic Initiatives for the year of 2019.
The combined and dedicated effort from all the departments at Doosan Bobcat India made this conference a huge success.
두산밥캣, ESG 성과 담은 ‘지속가능경영보고서’ 발간
Doosan Bobcat Opens a Parts Distribution Center in Halle, Germany
On 11 October 2018, Doosan Bobcat announced that it had launched a PDC (Parts Distribution Center) for the EMEA (Europe, the Middle East and Africa) market in Halle near Leipzig, Germany.2018-10-11
The PDC, sitting on a 43,000m2 site in Halle, Germany, is Doosan Bobcat’s third PDC following those in Chicago, USA and Dubai of the UAE. This huge PDC handles more than 150,000 types of Doosan Bobcat construction equipment parts and components.
The operation of the PDC has enabled Doosan Bobcat to reduce its parts supply time to the EMEA region significantly. Moreover, upon receiving urgent delivery requests from its customers or dealers, Doosan Bobcat can now deliver its parts and components throughout the region within 24 hours, significantly enhancing its competitiveness to meet the market demand in the region.
Doosan Bobcat has established the PDC in Halle, Germany for the purposes of flexibly responding to demand for its parts and components in the EMEA market, which has been recovering gradually since 2017, and providing its customers and dealers in the region with an even faster customer service. The number of Doosan Bobcat dealers in the region has surpassed the 180 mark in 75 countries in total.
An executive of Doosan Bobcat said, “By establishing a PDC in the German market, which is strategically important to us in itself, we have been able to supply our parts and components to our major overseas markets including the Europe in a more stable manner.” He went on to say, “We will focus on providing a world-class customer service customized to meet the needs of each of our customers in the region so as to further boost customer satisfaction with our service throughout the region.”
두산밥캣, ESG 성과 담은 ‘지속가능경영보고서’ 발간
Doosan Bobcat to Enter Compact Tractor Market
On July 25, 2018 Doosan Bobcat Inc. announced that it signed a development service contract with Daedong Industrial Company, Ltd., for the development of compact tractors to strengthen its competitiveness in North America compact equipment market. Doosan Bobcat and Daedong Industrial will focus on product development to launch a new product within 2019.2018-07-25
Doosan Bobcat aims to expand its business portfolio from the compact construction equipment sector, where it has strong competitiveness, to an adjacent market. Doosan Bobcat is planning to reach new customers with a full line of compact tractor models while focusing on increasing market presence of its existing products, which have competitiveness in the construction sector including housing, in other business areas.
The North American compact tractor market stands at 160,000 units per year and has grown at an average annual growth rate of 5.4% over the past five years. By leveraging its brand value and dealer network, Doosan Bobcat aims to increase compact tractor market share in North America while expanding its business in other regions in the mid- to long-term. It also expects to increase the sales of existing products by expanding its sales channel.
"The compact tractor market is the largest segment in the global compact equipment industry. For Doosan Bobcat, it will be one of the most important sectors that will serve as a bridgehead to realize economies of scale”, said an official of Doosan Bobcat. “We will focus to expand our market share in the initial stage through aggressive marketing strategies and sales channel expansion in North America. We expect sales of KRW 200 billion per year in the North America compact tractor market within five years of launch and a bigger sales opportunity of existing products.
두산밥캣, ESG 성과 담은 ‘지속가능경영보고서’ 발간
Doosan Bobcat Repays $150 million in Advance, Enhancing its Financial Soundness
On 24 June 2018, Doosan Bobcat announced that it had settled the installment of $150 million of its borrowings in advance on June 23 (U.S. time). It is the company’s second early repayment in 2018, and since its borrowing of 1.7$ billion in 2014, the company has made its six early repayments amounting to $670 million USD in total.2018-07-24
The company’s consolidated debt has decreased by more than 40% to $978 million as of July 2018 from $ 1.7 billion in 2014, and its debt ratio is expected to decrease to 72% by the end of this year from 105% at the end of 2014.
With this early repayment, Doosan Bobcat expects to reduce its debt ratio by over 4% points compared to that posted at the end of June 2018, while increasing the net income thanks to its decreased interest expenditure.
The company’s net income grows at a CAGR of 36.0%, rising from $131 million USD in 2015 to $242 million USD in 2017, supported by its efforts to improve its financial profile through refinancing, debt restructuring and credit rating improvement initiatives and the impact of US corporate tax cuts.
“This early debt repayment is noteworthy as it indicates that the company’s performance is so solid that it continues to improve the financial structure while making active investments,” said an official of Doosan Bobcat. "Based on our sound financial structure, we will focus its investment activities to secure the future growth engine and further enhance our presence in the compact equipment market."
In June 2018, the company acquired a backhoe loader plant in India to expand its market share in India. The company is currently preparing to launch new products in Europe and the United States in 2019.
■ Doosan Bobcat’s early repayment of borrowings by year
■ Debt Ratio
두산밥캣, ESG 성과 담은 ‘지속가능경영보고서’ 발간
Doosan Bobcat Opens Backhoe Loader Plant in India
Doosan Bobcat has opened its new backhoe loader plant in India, thus marking its entrance into one of the world’s three largest markets for compact construction equipment industry.2018-06-05
On June 4, Doosan Bobcat President and CEO Scott Park visited the new backhoe loader plant in India, where he checked the progress of the business. Doosan Bobcat took over this plant last month, which has a site area of 80,000㎡ and a factory floor area of 15,000㎡, and is capable of producing 8,000 machines a year.
Doosan Bobcat has entered the backhoe loader market in a bid to expand its emerging market portfolio with the aim of exploring mid- and long-term growth engines. India’s compact equipment market is the third largest in the world after the US and China, with an estimated worth of KRW 1.3 trillion, where the backhoe loader sales account for more than 80%. Since 2014, the Indian backhoe loader market has grown at an average annual rate of 9.7%.
Doosan Bobcat has acquired idle facilities to produce backhoe loaders in India to minimize its risk of investment. By dramatically shortening the period from preparation time to shipping time compared to the time taken to establish an entirely new plant, the company will be able to start releasing its first batch of backhoe loaders in the second half of next year. They will then focus on marketing activities targeting the Indian market in a bid to expand its market share.
Doosan Bobcat President and CEO Scott Park said: “With government-led infrastructure investment increasing in recent years, the compact market is growing rapidly in India, making it a highly attractive market. Our mid and long-term goal, beginning with backhoe loaders, is to lead the Indian small construction machinery market.”
Among the diverse activities it conducted last year, Doosan Bobcat unveiled Earth Force, a locally tailored brand for China compact market, to make inroads into emerging markets.