Doosan Bobcat

Doosan Bobcat Announces New Offering to be Listed on November 18

On October 13, Doosan Bobcat made a public filing with a revised plan for its initial public offering (IPO). Under this revised plan, the projected listing is November 18.
This plan reflects the market and the results of previous demand forecasting, with an adjusted number of shares of 30,028,180 and estimated price range between 29,000 and 33,000 KRW.

2016-10-13

Doosan Bobcat Files Securities Registration Statement as Part of IPO; Trading to Begin on Oct. 21

On Sept. 8, Doosan Bobcat Inc. filed a securities registration statement with the Financial Services Commission (FSC) as the company looks to go public. The company’s shares are expected to begin trading on Oct. 21.
The company will offer 48,981,125 shares at 41,000 won to 50,000 won apiece ($37-$45.) It will gauge demand for the share sale from Oct. 6 to Oct. 7, and take orders from Oct. 12 to Oct. 13. Korea Investment & Securities Co. and JPMorgan Chase & Co. are leading the initial public offering (IPO). Hanwha Investment & Securities Co., Shinyoung Securities Co., Credit Suisse Group AG and HSBC Holdings Plc. are also helping to arrange the share sale.
Doosan Bobcat is a compact construction equipment maker that has its global headquarters in South Korea and 31 overseas units in 20 countries. Introducing the world’s first skid-steer loader, Doosan Bobcat is a pioneer in the compact construction equipment market and enjoys a solid leadership position in the North American market.
Last year, Doosan Bobcat posted its best performance since the company was acquired by Doosan Infracore —generating 4.4 trillion won in sales and 385.6 billion won in operating profit. In the first half of 2016, Doosan Bobcat generated sales of 2.15 trillion won and 234.8 billion won in operating profit. Its operating margin increased from 9.54 percent in 2015 to 10.92 percent in the first half of this year.
“We have built a solid business foundation on the back of firm housing market growth in North America, our core market, and the expansion of high-end product sales,” said a Doosan Bobcat official. “Going forward, our priorities are on reinforcing competitiveness in emerging markets by supplying locally-customized products and building a sales service network.”

2016-09-09

Doosan Bobcat employees volunteer for ‘Doosan Day of Community Service’

Doosan Bobcat employees completed the annual “Doosan Day of Community Service” — a companywide volunteer effort that celebrates ongoing partnerships with communities in North America and around the globe where the Company does business.
During the first service day for 2016, employees volunteered for projects that included helping with various nonprofit organizations; constructing a BMX track; working with local food banks; cleaning sections of highways; and performing various landscaping and construction work at schools, parks, zoos, museums and community recreational facilities. Approximately 600 Doosan Bobcat employees volunteered in the community efforts, supporting over 50 nonprofit organizations.
Projects and participation were organized by Doosan and Bobcat facility locations in the U.S., South Korea, China, Czech Republic, France, Germany and other locations around the world.
The community service days place a large emphasis on the “Doosan Way” — an organizational principle that links all Doosan employees’ values to a management system focused on community and social responsibility that can be incorporated into their daily lives. At the heart of the Doosan Way is the idea that being a good corporate citizen is an ongoing responsibility. Doosan Bobcat believes that the organization and its employees should support the environment, communities and partnerships that contribute to the company’s and community’s success.
“At Doosan and Bobcat Company, we all take great pride in seeing how dedicated and eager our employees are to make a difference in their communities,” said Laura Ness Owens, director of marketing for North America and Oceania. “We are very proud to continue these service days year after year.”

2016-04-26

Improvements completed to Gwinner engineering building and plant

$12 million combined project continues company-wide improvements to facilities and operations
(WEST FARGO, N.D. — April 2016) Bobcat Company and its parent organization, Doosan, recently completed $12 million in renovations at its engineering and factory facilities in Gwinner, North Dakota. Both projects are part of an ongoing investment to help enhance work environments, accommodate growth, drive innovation and improve operations across the organization.
“We place great value on our employees and our products, and we want to continue to create environments where innovation and forward-thinking are nourished,” said Laura Ness Owens, director of marketing.
Several functional improvements were made to the Gwinner engineering facility to promote a more collaborative work environment: Individual offices have been removed to open up the floor plan and workstation areas; interactive conference rooms and enclaves were added for small- and large-group meetings, and more independent and private work. And advanced technology supports the entire building.
Similar to what has been done at other Bobcat Company and Doosan facilities, the building is now designed to create more “chance encounters” among employees who might not otherwise work together. Company officials believe chance encounters spark additional collaboration and greater innovation.
Bobcat and Doosan have also added “vitality” elements to promote a health-conscious and energetic atmosphere, which includes standing desks, treadmill work stations and an expanded break room for employee comfort.
At the company’s primary production facility in Gwinner, Bobcat and Doosan have expanded the north assembly and compact excavator production areas, which have been redesigned to help improve factory flow and increase accessibility for employees. The company has also renovated break rooms, increased the number of restrooms in the plant and added dedicated lockers for each shift employee.
In addition, mechanical improvements, such as adding a shot blast system and an orange ColorMax booth, were made to the paint line area. The shot blast system will be used to prep the major weldments before painting occurs, and the ColorMax booth will help evenly spread a weather-resistant, orange finish on the tailgates, which is part of the Bobcat signature trade dress.
Over the last three years, Bobcat Company and Doosan have been adding and improving locations across the country, which reflects an organizational commitment to continue investing in facilities, people and products. In 2014, Bobcat and Doosan opened the new Acceleration Center in Bismarck, North Dakota, a facility focused on engineering, R&D, training and product testing. The West Fargo headquarters is currently undergoing a $9.5 million expansion, which is slated for completion in late summer 2016.
“We are committed to creating environments that help us attract and retain talented individuals focused on helping to move our company forward, across all types of facilities, from engineering to production,” said Ness Owens. “We believe what we are doing is cutting-edge for manufacturing companies in the U.S., and we are proud to be out in front as an industry leader.”

2016-04-25