Daewoo Forklifts Utah
Start-up of the forklift business
In the latter part of the 1960s, Korea encouraged a national expansion of the industrial equipment industry. At that time, the Korean forklift market was an open-import situation. Korea Machinery Co., Ltd. started to import assembled forklifts and sell them to big business groups, state-run corporations and the armed forces. During the year 1976, Daewoo Heavy Industries Ltd. merged with Korea Machinery Co., Ltd. The corporation established service and sales outlets throughout the country and, after a few years, opened its very own forklift production factory. Quality improvement and product development 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 industry quickly 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 companies entered a joint-venture project in the early 1980s to deal with competition faced by Caterpillar in the United States forklift market. The forklift sales of Daewoo skyrocketed and another plant was built during the year 1984. Daewoo Heavy Industries Ltd. was then in a position to manufacture forklifts meant for export. In the early 90s, Daewoo went international with a worldwide sales network. New models were developed as an independent brand utilizing Korean technology.
Development of new models
Developed during 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 durability and performance tests have validated the quality of this new family of trucks. The company established reliability evaluation centers to assure the reliability of main parts. These centers have acquired worldwide respect.
Famous for its low impact on the environment and operator comfort is the G5 series. The G5 is recognized throughout the globe for being durable, reliable and operator friendly. The series rated high amongst customers in large-scale, after sales surveys as part of a consumer-oriented marketing strategy for these models.
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