Daewoo Forklifts Prince Edward Island

Start-up of the forklift business
A national expansion of the industrial machines industry was encouraged by Korea in the late 1960s. At that time, the forklift market in Korea was an open-import situation. Korea Machinery Co., Ltd. started to import forklifts that are assembled and sell them to large businesses, state-run companies and the armed forces. During 1976, Daewoo Heavy Industries Ltd. merged with Korea Machinery Co., Ltd. The company established sales and service outlets all around the country and, after a few years, opened its very own forklift production plant. Quality improvement and product development through continuous technical training were the plant's primary focus.

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 drawn the interest of Caterpillar Industrial Inc., an American company. The two companies entered a joint-venture project during the early part of the 1980s to deal with competition faced by Caterpillar within the US 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 make forklifts for export. In the early 90s, Daewoo went global with a worldwide sales network. New kinds of forklifts were developed as an independent brand name utilizing Korean technology.

Development of new models
Developed during the year 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 hydraulic systems, transmissions and engines. A host of 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 components. These centers have obtained global respect.

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

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