Doosan expands China operations
1 min read
South Korean machine tool maker Doosan is to set up an R&D centre in China to support its already established factory in Yantai in East China’s Shandong Province, which has an annual production capacity of 1,000 units.
According to Kim Woon-bum, vice-president of Doosan’s machine tool division Doosan Infracore Co Ltd, all machines produced in China will be developed by the local R&D centre.
The company aims to sell 1,400 machines in China this year, 400 of which will be manufactured at the Yantai factory. The rest will be produced in South Korea.
“We will further invest $10 million in the coming two to four years to enhance R&D and expand our Yantai plant’s annual production capacity to 2,000 units by 2010,” said Mr Kim, who added that he believes Doosan's R&D strength and its advanced manufacturing facilities will allow it to become a global player.
He said the majority of China’s machinery producers still lacked international competitiveness in terms of technology and design. “But they are growing very quickly,” said Kim, who predicted Chinese firms would catch up with Doosan within five to 10 years.
