Daewoo Forklifts Minnesota

Start-up of the forklift business
A nationwide expansion of the industrial machinery industry was encouraged by Korea in the late 1960s. During that time, the Korean forklift market was an open-import situation. Korea Machinery Co., Ltd. began to bring in forklifts that are assembled and sell them to big business groups, state-run corporations and the armed forces. In 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. 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 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 in 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 another plant was constructed in the year 1984. Daewoo Heavy Industries Ltd. was then in a position to make forklifts intended for export. In the early 90s, Daewoo went international with a worldwide sales network. New types of forklifts were developed as an independent brand name utilizing Korean technology.

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

Well-known for its operator comfort and low environmental impact is the G5 series. The G5 is known all around the globe for being reliable, operator friendly and durable. The series rated high amongst customers in after sales, large-scale surveys as part of a consumer-oriented marketing strategy for these models.

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