Doosan buys Norwegian ADT manufacturer Moxy for £44m

Doosan has purchased Norwegian articulated dump truck manufacturer Moxy for almost £44m.

The purchase follows Doosan's acquisition of Bobcat’s skid steers and telehandlers plus Ingersoll Rand's portable power machinery and brings the Korean manufacturer into the ADT market which it values at £1.6bn.

The deal has been done through Doosan’s European subsidiary DIEU, and is part of the manufacturer’s push into the market for larger equipment as it progresses towards its target of being in the global top three machinery manufacturers by 2012.

It plans to increase ADT sales (which stood at £42m in 2007) five fold by 2012 by utilising its 300+ dealers throughout China, Europe and North America.

Rationalisation of the dealer network in the UK will take some time as Moxy has its own dealers and many Doosan dealers market other makes of ADT.

Moxy has a range of five articulated machines with payloads from 24t to 46t which feature its unique ‘swinging bogie’ design where the rear wheels are driven through gears in the tandem axle housings.

It also has a range of ADT-based tractor units, employs 151 people and was developing a range of rigid dump trucks having bought designs from Aveling Barford.

For 10 years up to 2001 Komatsu owned part of Moxy (along with AS Olivin, a Norwegian government-owned mining company). Marubeni- Komatsu marketed the trucks in the UK.

Komatsu sold its share to AS Olivin and at the end of 2002 the British based Thomson Group bought the company.