News Releases for November 2007
November 30, 2007
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Hoeven: Bobcat Sale Completed
Company Assures Governor of Continued Operations in North Dakota
BISMARCK, N.D. –Gov. John Hoeven today received a phone call from newly-named Doosan Infracore International CEO David Rowles, and a letter from Doosan Infracore Vice Chairman Yongmaan Park, informing the Governor that Ingersoll Rand's sale of Bobcat to Doosan Infracore has been completed. Rowles assured the Governor that there will be no changes in the company's North Dakota operations, and that Doosan is committed to further growth in the state.
"Bobcat is a true North Dakota success story, and we look forward to supporting its continued growth in our state," Hoeven said. "Whether as a stand alone company, or part of a larger corporation, its success is attributable to North Dakota's quality workforce and exceptional work ethic."
In his letter, Park wrote: "We are extremely excited about the future potential for professional growth for our employees and added value for all of our company's other stakeholders. We will be focused on growing Bobcat's business operations and taking them to the next level as we become a new global leader in the construction equipment sector."
Rowles, longtime president of Bobcat America, will run Doosan Infracore International based in Charlotte, N.C. Scott Nelson, current president of Bobcat ESA, has been named president of Bobcat Worldwide based in Fargo. The company's North Dakota operation will continue as currently structured, with facilities in Gwinner and Bismarck.
The $4.9 billion sale was announced last July. Hoeven met last summer with Bobcat, Ingersoll Rand and Doosan executives to press for retaining the company's employees and facilities in North Dakota.
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