Doosan Infracore to spin off defense manufacturing unit

SEOUL, Nov. 12 (Yonhap) -- Doosan Infracore Co., South Korea's largest maker of
construction equipment, said Wednesday that it will spin off its defense
manufacturing division by the end of this year in a bid to boost its
defense-related business.
The unit, tentatively named Doosan DST, will be wholly owned by its parent Doosan
Infracore, it said.
The unit produces armored vehicles and other weapons. Its order backlog reached
1.7 trillion won (US$1.26 billion) as of the end of October, according to Doosan
Infracore.
Last month, Doosan Infracore received an order from the country's Defense
Acquisition Program Administrator to deliver armored vehicles worth 458 billion
won.
sam@yna.co.kr
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