BusinessWeek Names Doosan a Top Global Company

October 7th, 2009

Doosan Infracore Machine Tools of West Caldwell, New Jersey announced today that Doosan Heavy Industries and Construction Co., Ltd. placed 4th in the top 40 list of global companies in a recent study by BusinessWeek.  Doosan Heavy Industries & Construction ranked 5th out of the field of top 25 companies in 2008.  Technical Equipment Sales of Cincinnati, Ohio is the authorized distributor of Doosan machine tools in Ohio, Indiana and Kentucky, according to a spokesperson from its parent company, Morris Group, Inc. of Windsor, Connecticut.

The list, compiled by management consulting firm A.T. Kearney, evaluates 2,500 of the largest publicly listed companies who have a minimum of $10 billion in sales during 2008, and rank them based on their sales growth and CAGR (compound annual growth rate). BusinessWeek singled out as some of the common traits of the World's Best Companies a commitment to innovation, diversified portfolios, aggressive expansion, strong leadership by the CEO, and a clear vision for the future.

In the survey, Japanese electronics manufacturer Nintendo, Google and Apple ranked first to third, respectively, while Doosan Heavy Industries & Construction and Hyundai Heavy Industries ranked fourth and fifth on the list, among major Korean players. Due to the characteristics of the list, the highest ranking enterprises have large global operations, and have sustained a consistently high growth rate over the past five years.

Doosan Heavy Industries & Construction posted US $15.269 billion in sales in 2008, with foreign sales accounting for 70 percent of its operations. The company recorded annual average growth in sales of 34 percent during the 2004-2008 period, and saw its CAGR expand by 26 percent per year on average. It ranked third in the expansion of value creation, and ranked sixth in terms of sales growth among the 40 companies, apparently enjoying both quantitative and qualitative growth.

BusinessWeek cited Doosan Heavy Industries & Construction as an exemplary company that has wisely
overcome the economic crisis, attributing this success to the firm’s ability to predict the future and its agility. The magazine also singled out as factors behind Doosan’s growth, its successful mergers and acquisition of October 7, 2009 technology and companies, its performance-focused corporate culture and its diversification of businesses to include nuclear energy and water desalination, both of which are areas with high growth potential.

Jang Myounghoon, an A.T. Kearney partner who participated in the survey, said, “Doosan Heavy Industries & Construction received high marks not only for its financial achievements but also for the CEO Geewon Park’s strong leadership, its global management structure, and the settlement of a successful corporate culture, and hence will have huge growth potential in the future.”

Please click on link below for additional information:

http://bwnt.businessweek.com/interactive_reports/global_champs_2009/index.asp

Doosan Infracore Media Contact:

John Ross
Doosan Infracore
8 York Avenue
West Caldwell, NJ 07006
(973) 618-2500
john.ross@doosan.com