Doosan Bobcat has announced a new subsidiary - Doosan Industrial Vehicles (DIV). 

Formerly known as the DIV Business Group (BG) of the Doosan Corporation, Doosan Bobcat completed the acquisition of a 100% stake in DIV on 6th July 2021, for 557 million EUR.  

On 1st July 2021, DIV announced that it had split from Doosan Corporation and that its Board of Directors had appointed Executive Vice President, Taeil Kim, the head of DIV BG since 2020, as the new CEO of DIV. Now part of Doosan Bobcat, DIV offers a range of material handling equipment, including forklift, warehouse equipment and downstream businesses. 

Founded in 1968, DIV was the first company to produce forklifts in Korea. DIV boasts diverse product lines including 1.5 to 30 t engine forklifts, 1 to 5 t electric forklifts and logistics equipment for warehouses. I

 
According to DIV, the company is expecting annual sales in 2021 to surpass 743 million EUR for the first time since the business was founded, as sales volumes surge due to increased demand for DIV products in North America and elsewhere.

Following DIV’s incorporation as one of its subsidiaries, Doosan Bobcat says they anticipate cost reductions and stronger dealer networks, coupled with the expansion of its product portfolio and enhanced organisational influence.