Daewoo Forklifts Iowa
Start-up of the forklift business
A nationwide expansion of the industrial machinery business 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. started to import forklifts which are assembled and sell them to large business groups, the armed forces and state-run companies. During 1976, Daewoo Heavy Industries Ltd. merged with Korea Machinery Co., Ltd. The corporation established sales and service outlets throughout the nation and, after a few years, opened its own forklift production plant. Product development and quality improvement through constant technical training were the main focus of the plant.
Expansion of forklift exports
Daewoo Heavy Industries Ltd.'s market share of the domestic forklift business rapidly increased to 90 percent. 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 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 constructed during the year 1984. Daewoo Heavy Industries Ltd. was then in a position to manufacture forklifts intended for export. During the early 90s, Daewoo went international with a worldwide sales network. New models were developed as an independent brand name utilizing Korean technology.
Development of new models
The G5 series was the very first series of proprietary models, developed during 1998. These models were 1800 kg - 3000 kg internal combustion trucks. A research effort developed core technologies for hydraulic systems, transmissions and engines. A host of performance and durability tests have validated the quality of this new family of trucks. The company established reliability evaluation centers to guarantee the reliability of main components. These centers have acquired global respect.
The G5 series is famous for low environmental impact and operator comfort. The G5 is recognized throughout the globe for being durable, reliable and operator friendly. The series rated high among clients during after sales, large-scale surveys as part of a consumer-oriented marketing approach for these models.
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