SEOUL, May 4 (Yonhap) — Small-sized construction equipment maker Doosan Bobcat Inc. said Tuesday that it will spend 77 billion won (US$68.6 million) to expand one of its U.S. plants in a bid to meet growing demand.
The plant located in Statesville, North Carolina, produces compact tractors and portable power stations, or compact battery-powered generators, Doosan Bobcat said.
The expansion is aimed at meeting steadily increasing demands for grounds maintenance equipment (GME), such as ride-on mowers and hedge cutters, the company said.
Sales of GME rose 98 percent to $327 million in 2020 compared with $165 million in 2019, it said.
The expansion will be completed by May 2022 starting from July.
Last month, Doosan Bobcat finished the $26 million expansion of another plant in Litchfield, Minnesota.
The small-sized construction machinery maker said it has also released a small articulated loader for narrow spaces in the markets of Europe, the Middle East and Africa.
Doosan Bobcat, a unit of Doosan Heavy Industries & Construction Co., has been pushing for new business to produce compact tractors and farming and landscaping equipment, including mowers, since 2018.
The company bought a forklift business division from Doosan Corp., the holding company of Doosan Heavy Industries & Construction, for 750 billion won in March to tap into the forklift market from the second half of the year.