Under the terms of the mult-imillion pound investment, Rushlift will continue to operate under its own name as a subsidiary of Doosan Industrial Vehicle UK. Doosan retains its established network of local dealers which, combined with Rushlift's six depots across the UK, gives it a competitive advantage and further strengthens Doosan's dealer route to market. These dealers are largely non-competitive with Rushlift as it deals mainly with companies within a defined regional presence.
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."
Doosan Industrial Vehicle is a division of the Doosan Corporation, whose activities far exceed the manufacture of forklift trucks and cover a variety of areas including building power plants, nuclear power, heavy equipment and engine manufacture and industrial vehicles.
The purchase will protect Rushlift's staff, integrating them with the global Doosan brand, and the company's 40,000 employees worldwide. By joining Doosan's operations across 38 countries, the venture also provides potential career progression opportunities for these employees, as they join South Korea's oldest company.
