Doosan Bobcat Opens Backhoe Loader Plant in India to Enter the Market in Earnest

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 the compact construction equipment industry. On 4 June 2018, Doosan Bobcat President and CEO, Scott Park, visited the new backhoe loader plant in India, where he checked on the progress of the business. Doosan Bobcat took over this plant last month, which has a site area of 80,000m2, a factory floor area of 15,000m2 and is capable of producing 8000 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 of fertilisers in the country, he added. India is dependent on imports for phosphatic fertilisers. Awasthi said IPL -- the country's largest importer of potash fertilisers -- has bought about 27 per cent stake, while IFFCO through its subsidiary Kisan International Trading (KIT) has purchased around 10 per cent in JPMC. Along with that he also mentioned that the Jordanian government has permitted Brunei to offload its stake to Indian companies. IFFCO already has a joint venture, Jordan India Fertilizer Company (JIFCO), in which it has 52 per cent stake, while JPMC holds 48 per cent equity in it. 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.