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Doosan exec says Chinese business should make money

May 28,2018

A senior executive from Doosan Group, a machinery-to-construction conglomerate, on Sunday encouraged the group’s Chinese operations to raise their profitability further this year based on robust demand for its heavy equipment.

During his visit to Doosan Infracore China (DICC) on Friday, Doosan Group Vice Chairman Park Gee-won urged DICC employees to focus on increasing sales of high-end excavators in the mid- to large-size range for the rest of the year, Doosan Infracore said in a statement.

In the January-March quarter, DICC posted 425.1 billion won ($394 million) worth of sales, jumping 93 percent from a year earlier helped by strong local demand for Doosan excavators, it said.

This year, China’s excavator market is expected to reach 13,000-15,000 units and Doosan’s market share looks set to grow further this year after reaching 9 percent in the first quarter, the company said.