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Year: 0

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Daewoo Forklifts Illinois

Daewoo Forklifts Illinois

Start-up of the forklift business
A nationwide expansion of the industrial equipment industry was promoted by Korea in the late 1960s. During that time, the forklift market in Korea was an open-import situation. Korea Machinery Co., Ltd. began to bring in forklifts which are assembled and sell them to large business organizations, state-run companies and the armed forces. During 1976, Korea Machinery Co., Ltd. merged with Daewoo Heavy Industries Ltd. The company established service and sales outlets throughout the nation and, a few years later, opened its own forklift production plant. Product development and quality improvement through continuous technical training were the plant's primary focus.

Expansion of forklift exports
Daewoo Heavy Industries Ltd.'s market share of the domestic forklift business quickly increased to 90 percent. By the 1980s, the company's sales increases and technological improvements had drawn the interest of Caterpillar Industrial Inc., an American company. The two firms entered a joint-venture project in the early part of the 1980s to deal with competition faced by Caterpillar within the US forklift market. Daewoo's forklift sales skyrocketed and a new plant was built during the year 1984. Daewoo Heavy Industries Ltd. was then in a position to manufacture forklifts for export. In the early 90s, Daewoo went international with a worldwide sales network. New kinds of forklifts were developed as an independent brand using Korean technology.

Development of new models
Developed in 1998 was the G5 series, the first series of proprietary models. These models were 1800 kg - 3000 kg internal combustion trucks. A research effort developed core technologies for hydraulic systems, transmissions and engines. A lot of performance and durability tests have validated the quality of this new family of trucks. The company established reliability evaluation centers to guarantee the reliability of main components. These centers have garnered worldwide respect.

Well-known for its low impact on the environment and operator comfort is the G5 series. The G5 is recognized all over the globe for being durable, reliable and operator friendly. The series rated high among customers during large-scale, after sales surveys as part of a consumer-oriented advertising approach for these models.

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Daewoo Forklifts Illinois

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