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Help Standard chartered Bank rename Doosan

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2outof3

Titanium
Joined
Sep 27, 2014
Location
West Coast USA
Now that the sale of Doosan's machine tool Division seems to be finishing up, I think we should help Standard Chartered Bank Private Equity Group ( the new owners) find a new name. This would be the third name starting with Daewoo, then Doosan and now ????

What say ye.
 
2outof3 said:
Blue Machinery.

As in Blue the color or blue as in sad?
Click to expand...

He, he... I was going for Blue-Machine... Which is shorter than Yester-year Mori Seiki Knock off...

I have to admit I am little sad/blue that Doosan left the area/Denver... But to be fair the larger Doosan organization is a mega corp. And their Brand and design goes from strength to strength.
 
Regardless of what you call it...the Daewoo 3016L that I have has been a major winner in my shop for many years. I call it making money!

Lee (the saw guy)
 
cameraman said:
He, he... I was going for Blue-Machine... Which is shorter than Yester-year Mori Seiki Knock off...

I have to admit I am little sad/blue that Doosan left the area/Denver... But to be fair the larger Doosan organization is a mega corp. And their Brand and design goes from strength to strength.
Click to expand...

But the machine tool division will no longer be part of the mega group Doosan. It will have no relationship which is why the name needs to be changed. All caused by the mega corp over extending itself with the purchase of Bobcat and other bad financed decisions.
 
2outof3 said:
But the machine tool division will no longer be part of the mega group Doosan. It will have no relationship which is why the name needs to be changed. All caused by the mega corp over extending itself with the purchase of Bobcat and other bad financed decisions.
Click to expand...

I was going to ask you whether or not it was acquired as a separate division/got sold off... Wow... That is a big deal at a really bad time... Do you suspect they knew this was all in the works before they did their re-structuring? I.e. prepare everything for sale and make everything look clean, easy and efficient on paper to prospective buyers?
 
cameraman said:
I was going to ask you whether or not it was acquired as a separate division/got sold off... Wow... That is a big deal at a really bad time... Do you suspect they knew this was all in the works before they did their re-structuring? I.e. prepare everything for sale and make everything look clean, easy and efficient on paper to prospective buyers?
Click to expand...

No. Doosan was in a bad way. They paid too much for Bobcat before the slow down started in Asia for construction equipment. They were cash strapped and their biggest cash cow was the machine tool division. They sold it because they had to. They wanted 1.7 to 1.8 billion but settled on 1.1 billion. It did not hurt that Mitsui holding gave them some sort of large commitment for US based product for the Ellison companies before Standard Chartered bought the company but the fact Mitsui did not bid on the Doosan machine tool division is pretty telling.

The real question is what now. What is Standard Chartered going to do. Hold it as a stand alone company or sell it to someone else. Fair Friend (Feeler) was the other top bidder but defense related issues in Korea made that sale more difficult. Now that Standard Chartered owns it, maybe those stumbling blocks are now gone. Maybe another large company in the machine tool business will buy it up from Standard Charter for 1.5 billion or so. Maybe one that likes debt and is a world wide based company.
 
Just ask the rest that went the way of the dead bird thanks to private investment groups

G&L
Thyssen Krupp
Fadal
Cincinnati
Monarch
 
Private investment company will pump it up, make it sound bigger flog it off at some over inflated price.
While ripping the guts out of the company in the background.
Why would you sell the most profitable part and keep something like bobcat, maybe they couldn't sell bobcat??

Thyssen Krupp the Steel company what happened to that? is it ok i thought it was a German owned company which had been around a long long time, so long established.
 
Street said:
Why would you sell the most profitable part and keep something like bobcat, maybe they couldn't sell bobcat??

Thyssen Krupp the Steel company what happened to that? is it ok i thought it was a German owned company which had been around a long long time, so long established.
Click to expand...

They spun off Bobcat into it's own company. It seems Bobcat was not sellable and it appears they paid too much. Also it is not Korean. I expect it will be off the Doosan books soon. Just my guess.

Thyssen Krupp spent a small time in the machine tool industry buying Giddings and Lewis who had just purchased Fadal.
 
Thyssen Krupp also owned Waupaca Foundry (Wi). Fortunately they didn't screw it up. They were and are doing well but Thyssen Krupp sold it off after owing it for quite awile.

Dave
 
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