Bobcat to Enter Compact Utility Tractor Market
WEST FARGO, N.D.- July 31, 2007
In a move intended to expand its No. 1 market position in compact equipment, Bobcat Company announced today that it has signed a long-term strategic agreement with a highly respected Korean manufacturer, Daedong Industrial Co. Ltd., to produce a line of Bobcat-branded compact utility tractors.
"This alliance brings together the strengths of two respected and recognized companies," said David Rowles, president of Bobcat Americas. "By combining the Bobcat global brand, dealer network and service with Daedong's commitment to compact tractor design and technology, we can provide our customers with the quality compact equipment experience they've come to expect from Bobcat. We plan to start offering compact utility tractors to customers later this year."
"Daedong is very pleased to have entered into this agreement with Bobcat Company," said Jun-Sik Kim, president of Daedong. "We, as a company, look forward to building on our strengths by providing Bobcat customers with quality, affordable tractors with marketplace staying power through this alliance." Daedong has produced compact equipment products for the past 60 years.
"This compact utility tractor line will complement our current Bobcat compact equipment lineup, which includes skid-steer, compact track, all-wheel steer and mini track loaders, compact excavators, telescopic tool carriers, utility vehicles, utility work machines and job-matched attachments," said Bruce Collins, vice president of attachments and vehicles for Bobcat Company.
"The quality of the Daedong product line is well recognized by customers as world-class," said Seong-Ki Kim, chief of the international business division for Daedong. "Bobcat and Daedong will achieve high synergy in this business collaboration."
In evaluating this market, Bobcat did extensive voice-of-customer and voice-of-dealer work to validate specific compact utility tractor features. The Bobcat project team worked with a team from Daedong to create a compact utility tractor that meets Bobcat-brand expectations.
Nearly 50 years ago, Bobcat introduced a compact front-end loader that became the world's first skid-steer loader, later adopting the familiar "Bobcat" brand. Bobcat Company leads the world in the design, manufacture and distribution of compact equipment, with more than 4,000 employees in plants and offices around the globe.
