Leading forklift truck manufacturer Doosan Industrial Vehicle UK has completed the multi-million pound purchase of national dealer Rushlift Ltd, a leading national provider of contract hire, fleet management and servicing materials handling and aviation support equipment.
Rushlift Ltd, which has six depots across Great Britain, including one at Queensway Meadows Industrial Estate, Newport, will continue to operate under its own name as a wholly-owned subsidiary of Doosan Industrial Vehicle UK.
The deal greatly enhances Doosan’s ability to compete for the biggest customer accounts which require a forklift manufacturer and national service network in a single partner. There will be no job losses at the Newport depot or any of the other five depots included in the deal.
KB Park, CEO of Doosan Industrial Vehicle, Korea, said: “The size of this investment reflects our commitment to the UK market, in which we enjoy our largest market share outside Korea. It is consistent with our desire to grow our operations both organically and through strategic acquisitions."
The deal provides security and career progression opportunities for Rushlift’s UK staff who become part of the Doosan brand family, which has more than 40,000 employees worldwide and operations in 38 countries.
Formed in 1896, Doosan is South Korea’s oldest company and is one of its largest too. The only person leaving Rushlift is former chairman Peter Cosgrove, who has retired.
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