Daewoo Forklifts United States

Start-up of the forklift business
A nationwide expansion of the industrial machinery business was encouraged by Korea in the latter part of the 1960s. At that time, the Korean forklift market was an open-import situation. Korea Machinery Co., Ltd. started to bring in forklifts that are assembled and sell them to big business groups, state-run companies and the armed forces. In the year 1976, Korea Machinery Co., Ltd. merged with Daewoo Heavy Industries Ltd. The company established service and sales outlets throughout the country and, a few years later, opened its very own forklift production factory. Product development and quality improvement through constant technical training were the primary focus of the plant.

Expansion of forklift exports
Daewoo Heavy Industries Ltd.'s market share of the domestic forklift business quickly increased to 90 percent. By the 1980s, the company's sales increases and technological improvements had attracted the interest of the American company, Caterpillar Industrial Inc. 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. The forklift sales of Daewoo skyrocketed and a new plant was constructed during the year 1984. Daewoo Heavy Industries Ltd. was then in a position to make forklifts meant for export. In the early part of the 90s, Daewoo went global with a worldwide sales network. New models were developed as an independent brand utilizing Korean technology.

Development of new models
Developed in 1998 was the G5 series, the first series of proprietary models. These models were 1800 kg - 3000 kg internal combustion trucks. A research effort developed core technologies for hydraulic systems, transmissions and engines. Many durability and performance tests have validated the quality of this new family of trucks. The company established reliability evaluation centers to guarantee the reliability of main parts. These centers have garnered global respect.

The G5 series is renowned for operator comfort and low environmental impact. The G5 is recognized throughout the globe for being operator friendly, durable and reliable. The series rated high among clients in after sales, large-scale surveys as part of a consumer-oriented advertising approach for these models.

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