Doosan Sells Montabert Subsidiary for $124 Million

Sale of hydraulic attachments business ‘part of Doosan’s effort to sell non-core assets in Europe, and funds will be used to focus on its core business’

Montabert SC 22 Hydraulic Breaker 5487244e27a7b 557862265c87f

Doosan Infracore sold Montabert, its French construction and quarrying equipment manufacturer, to Joy Global Inc., a U.S.-based mining equipment manufacturer, for 110 million euros ($124 million).

Based in Lyon, France, Montabert is a global producer of hydraulic attachments including breakers (percussion hammer attachments) and drifters (rock drills placed on top of the feeds).

Doosan said in a statement: “Doosan Infracore has sold Montabert as part of its effort to sell its non-core assets in Europe, and will use the funds generated by the sales to focus on its core business areas.”

Doosan Infracore acquired Bobcat for $4.9 billion in 2007 in the largest overseas acquisition in Korea’s history.