GDOT's $51M Widening of SR 92 Makes Progress

Daewoo Opens Doors to Asian Facilities

Tue May 11, 2004 - National Edition
CEG



From April 17 to 23, Daewoo Heavy Industries America Corporation provided a tour of its production facilities in Incheon, Korea and Yantai, China, as well as its parts warehouse in Ansan, Korea, for a select group of representatives from its North American dealer network.

The six-day tour combined both business and pleasure by providing attendees the opportunity to learn more about Daewoo and the cultures of Korea and China.

Daewoo’s original construction equipment factory in Incheon, Korea, is the facility currently supplying North American dealers with their stock of Daewoo excavators and wheel loaders. There, guests were able to see first hand the technology and production lines in place to manufacture Daewoo construction equipment, as well as the research and development facilities that will help Daewoo achieve its goal of becoming one of the top three worldwide equipment manufacturers within the next few years.

Daewoo has experienced an increase in sales and sustained growth despite the economic troubles experienced by most companies within the past few years. To continue this momentum, the company believed it was important to show its dealers the extent of commitment to the production and support of its construction equipment products.

“The Daewoo facilities in both Korea and China are very impressive,” said Cole Leavitt, branch manager of Gorham Tractor & Equipment Company Inc., Buxton, ME. “Daewoo has a very aggressive growth plan in place for the coming years, and it is apparent by the scope of their facilities that they will continue to thrive. I have confidence that carrying the line of Daewoo products will help our dealership and our customers grow and gain market share in the coming years.”

Daewoo currently is first in market share in China due to the company’s ability to meet the high production demands in the nation’s growing economy. Daewoo’s factory in Yantai is just a few years old, but it already manufactures more machines that any of its other facilities around the world. This facility manufactures enough excavators to satisfy the demand for Daewoo excavators only in China. Daewoo’s facilities in Europe and Korea manufacture the equipment for export to all other markets.

With all factories currently operating near full capacity, Daewoo is exploring new sites for an additional manufacturing facility in Korea, which would allow it to increase production so that the company can continue to meet the growing worldwide demand for equipment.

Throughout the series of tours, dealers were impressed with what they perceived was Daewoo’s long-term commitment to the worldwide marketplace. Jerry Blanchard, vice president of M&L Industries Inc., said “It is apparent that Daewoo, the company, as well as the people within the company, are dedicated to its success and continued growth.”

The weeklong sojourns in Korea and China were not all business. Daewoo also made sure that its dealers were introduced to the Korean and Chinese cultures through visits to some historic landmarks, local cuisine and a spectacular Broadway-type show.

“Our goal was to not only show our dealers the passion behind our growing company, but also to introduce them to the people who pride themselves in the machinery they are exporting for sale in North America,” said Jeff Wolfe, marketing manager, Daewoo Heavy Industries America Corporation. “I heard nothing but positive feedback on the trip and gained more knowledge about the total dedication of the company for which I work.”

Daewoo is planning another tour in Korea and China for additional attendees later this year.