Daewoo Forklifts New Brunswick
Start-up of the forklift business
A national expansion of the industrial machines industry was promoted by Korea during the latter part of the 1960s. At that time, the forklift market in Korea was an open-import situation. Korea Machinery Co., Ltd. began to import assembled forklifts and sell them to big businesses, state-run companies and the armed forces. During 1976, Daewoo Heavy Industries Ltd. merged with Korea Machinery Co., Ltd. The company established sales and service outlets throughout the nation and, a few years later, opened its very own forklift production plant. Product development and quality improvement through continuous technical training were the plant's primary focus.
Expansion of forklift exports
Daewoo Heavy Industries Ltd.'s market share of the domestic forklift industry rapidly increased to 90 percent. By the 1980s, the company's sales increases and technological improvements had drawn the interest of the American company, Caterpillar Industrial Inc. The two firms entered a joint-venture project in the early 1980s to deal with competition faced by Caterpillar within the US forklift market. The forklift sales of Daewoo skyrocketed and another plant was built in the year 1984. Daewoo Heavy Industries Ltd. was then in a position to make forklifts for export. During the early part of the 90s, Daewoo went global with a worldwide sales network. New models were developed as an independent brand name using Korean technology.
Development of new models
Developed during 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 engines, hydraulic systems and transmissions. Many performance and durability tests have confirmed the quality of this new family of trucks. The company established reliability evaluation centers to assure the reliability of major parts. These centers have obtained worldwide respect.
The G5 series is renowned for operator comfort and low environmental impact. The G5 is recognized all around the globe for being operator friendly, durable and reliable. The series rated high amongst clients in large-scale, after sales surveys as part of a consumer-oriented marketing approach for these models.
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