Daewoo Forklifts New York
Start-up of the forklift business
A national expansion of the industrial equipment industry was encouraged by Korea during the late 1960s. At that time, the forklift market in Korea was an open-import situation. Korea Machinery Co., Ltd. began to bring in forklifts that are assembled and sell them to big businesses, state-run companies and the armed forces. In 1976, Korea Machinery Co., Ltd. merged with Daewoo Heavy Industries Ltd. The company established sales and service outlets all around the country and, after a few years, opened its own forklift production factory. Product development and quality improvement through continuous technical training were the plant's main focus.
Expansion of forklift exports
The market share of Daewoo Heavy Industries Ltd in the domestic forklift industry went as high as 90%. By the 1980s, the sales of the company increases and technological improvements had attracted the interest of Caterpillar Industrial Inc., an American company. The two companies entered a joint-venture project during the early part of the 1980s to deal with competition faced by Caterpillar within the United States forklift market. Daewoo's forklift sales skyrocketed and a new plant was built during the year 1984. Daewoo Heavy Industries Ltd. was then in a position to manufacture forklifts for export. During the early 90s, Daewoo went global with a worldwide sales network. New models were developed as an independent brand name utilizing Korean technology.
Development of new models
Developed in the year 1998 was the G5 series, the very first series of proprietary models. These models were 1800 kg - 3000 kg internal combustion or IC trucks. A research effort developed core technologies for hydraulic systems, transmissions and engines. Many durability and performance tests have confirmed the quality of this new family of trucks. The company established reliability evaluation centers to assure the reliability of main parts. These centers have obtained global respect.
Well-known for its low impact on the environment and operator comfort is the G5 series. The G5 is known all over the globe for being reliable, operator friendly and durable. The series rated high among clients in large-scale, after sales surveys as part of a consumer-oriented advertising strategy for these models.
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