Doosan Names Industry Leader as CEO of Fast-Growing Global Construction Equipment Business

SEOUL, South Korea, April 1 /PRNewswire-Asia/ -- Doosan Infracore Co., Ltd., part of Korea’s US$18.2 billion Doosan Group, announced today that Mr. Anthony C. Helsham has joined Doosan Infracore as CEO of Doosan Infracore Construction Equipment, a global alliance of the CE businesses of Doosan Infracore Co., Ltd. and its affiliates, including Doosan Infracore International, Inc. This alliance of businesses generates US$ 3.3 billion in annual revenues through the manufacture and sales of compact and heavy construction equipment.

Helsham arrives from a 30-year career at Volvo including serving as CEO of Volvo Construction Equipment from 2000 to 2008, and head of its Korean operations from 1998 to 2000. In his role as CEO of VCE, he grew sales from US$2.0 billion in 2001 to US$7.7 billion in 2007, building the company into the number three position world wide. He most recently led Volvo’s Soft Products business from its HQ in Sweden.

"We are delighted to welcome Tony to Doosan," said Mr. Yongmaan Park, Chairman of Doosan Corporation, Doosan Group’s holding company. "We have always had big ambitions and bold plans in the construction equipment space. Despite the worldwide recession, we have not deviated from our plans and successfully set the foundation for growth. Our company is now poised, with Tony’s leadership, to accelerate our drive toward a top three position in our industry."

Over the years, Helsham has watched Doosan’s rapid rise to leadership in the infrastructure support business. "I am pleased to be joining this highly driven and successful team," said Helsham in Seoul today. "Doosan’s commitment to being a truly global business, and to attracting and developing international leadership talent, makes this a particularly exciting time to be joining Doosan."

Concluding, Park said, "Tony’s reputation in the construction equipment industry is legendary: it is a sure sign of the strength of our own market reputation that he has decided to join us and lead our domestic and international operations. His start at Doosan marks the next stage of our development to become one of the top three players."

Notes to Editors:

Doosan Group is a US$18.2 billion conglomerate established in South Korea in 1896. Doosan’s principal business is in infrastructure support, which encompasses power plants, desalination, construction equipment and related services, and marine diesel engines. Globally, its subsidiaries and affiliates employ more than 37,000 people (with more than 17,500 operating outside Korea) with operations spanning 4,100 locations in 35 countries.

Doosan Infracore Construction Equipment is an alliance of the CE businesses of Doosan Infracore Co., Ltd. and its affiliates, including Doosan Infracore International, Inc. This alliance of businesses is an industry leader in the engineering, manufacturing and marketing of compact and heavy construction equipment, attachments, air compressors, lighting systems, generators and articulated dump trucks. DI CE has combined revenues of US$ 3.3 billion

For Information:

Mr. Ju-eui Hong

Doosan Group

Tel: +82-10-6320-0360

Email: jueui.hong@doosan.com

Ms Julee Cho

Doosan Group

Tel: +82-10-4783-4736

Email: julee.cho@doosan.com

Ms Nicolle Kuritsky

Edelman

Tel: +82-10-3889-8902

Email: nicolle.kuritsky@edelman.com