Doosan : Bobcat Determines to Acquire Hydraulic Component Manufacturer Mottrol

- Company aims to create synergy through vertical integration

Doosan Bobcat is seeking to acquire Mottrol, a hydraulic component manufacturer based in South Korea.

Doosan Bobcat announced on June 12 that it decided to acquire 100% Mottrol's shares for 246 billion KRW.

Founded in 1974, Mottrol is the country's first company to enter the hydraulics industry. Mottrol produces travel and swing motors, pumps, main control valves and other hydraulic components for construction equipment. In response to equipment electrification, Mottrol has also been developing "E-Drive," a technology for inverters, and swing and travel devices that can electrically drive and control machines.

Scott Park, CEO and Vice Chairman of Doosan Bobcat said, "Mottrol's hydraulic and precision control technologies represent significant opportunities to support Doosan Bobcat's growth strategy, as we further diversify our company portfolio through vertical integration." He added, "Doosan Bobcat and Mottrol will create synergies while also seeking to expand Mottrol's business by extending external volumes."

The transaction is expected to close in September 2024, subject to the Korea Fair Trade Commission (KCTC)'s customary closing conditions.