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Bobcat plans merger with Doosan Robotics to boost autonomous machines

2024-08-06

Bobcat is advancing its automation efforts through a merger with Doosan Robotics, facilitated by a restructuring of its parent company, Doosan Group. The merger aims to capitalise on the growing robotics industry and the trend towards automation.

Doosan Group announced that Doosan Bobcat, which has grown through consistent expansion, will now venture into the high-growth robotics industry to capture new growth opportunities and accelerate innovation in its traditional products.

Shareholders were informed on July 11 that Doosan Bobcat would spin off from Doosan Enerbility, a clean energy-focused division. As part of the merger, Doosan Robotics will acquire Bobcat's shares in a stock swap. If shareholders approve the merger on September 25, Bobcat will become a wholly owned subsidiary of Doosan Robotics by the end of the year.

The Doosan Group, based in South Korea, is restructuring into three main pillars: ""Smart Machine,"" ""Clean Energy,"" and ""Advanced Materials."" Bobcat will fall under the ""Smart Machine"" pillar, focusing on autonomous construction and industrial vehicles. The new Doosan Robotics will represent approximately 42% of the conglomerate.

The restructuring will enable the new Robotics company to expand in key markets, including North America and Europe, leveraging Bobcat's dealer network and financing capabilities. Additionally, Bobcat's facilities will be used for testing and developing robotic products and services.

Bobcat has been a major revenue generator for the group and will provide financial resources for future mergers and acquisitions in areas such as autonomous machines, machine vision, and system integration.