Doosan took over the business of the Norwegian manufacturer of Moxy trucks

The DIEU Company, a subsidiary of Korean corporation Doosan Infracore in Europe, has signed the contract for buying the Norwegian manufacturer of dump trucks with articulated frame Moxy for 55 million Euros.

Moxy manufactures dump trucks from 23 to 46 tons lifting capacity and has an extensive network of authorized dealers in Europe and North America as well as research-and-developments centers in the USA and the UK.

Over the past three years the market share of dump trucks with articulated frame has grown in average by 18% mostly thanks to an increase in the number of mines being developed because of rise in prices for raw materials. The Doosan Infracore Corporation is planning to increase annual sales by 5 times, which should be 250 million Euros by 2012. Thus, having taken over the business of the Norwegian manufacturer Moxy with its manufacturing facilities to produce excavators and wheel loaders, Doosan Infracore will make every effort to enter the top three manufacturers of construction equipment before 2012.
In November 2007, Doosan Infracore took over the Bobcat Company, and in March 2007 it acquired the Chinese manufacturer of wheel loaders Yantai Yuhua Machinery.