Construction equipment brand Doosan will now be known as ‘Develon’. The revelation of the new name was made at a press conference on January 17th in Las Vegas. All the new equipment manufactured by the company along with its dealerships will now carry the new name. The rebranding is not just limited to North America but will be a global one.
The vice president of growth initiatives at the company in North America, Todd Roecker said that the name change will be effective immediately and anything of the company that you now know as Doosan going forward will be known as Develon. Despite the name change, the machinery manufactured by the brand will still have its distinguishable orange color. The rebranding has been underway since August of 2021 after the acquisition of the company by Hyundai Heavy Industries.
In order to pay off debt, Doosan heavy industries and construction decided to sell their construction equipment segment. Doosan Infracore had the right to use the original brand name until 2024, however, company officials decided to rebrand already.
Doosan Infracore North America and Hyundai Construction Equipment have both been operating under the Hyundai Genuine Holding Company as subsidiaries. In the acquisition, Hyundai construction equipment got both the company’s orange construction line and the Doosan engine group but not the Doosan portable power or bobcat.
At the press event company officials continued to stress how both companies are going to operate independently and compete with one another. They want to see Hyundai genuine rise to reach the top five global construction equipment companies within the next three years.
About the Name “Develon”
At the press event, company officials acknowledged that the name will take some getting used to as it does not quite roll off the tongue. According to the company executives the name originates from the term “developing onward”.
The company expanded on the new name in a news release and said that it aims to convey their intention of developing onward in order to bring innovative solutions to the heavy equipment industry.
All the new heavy machinery, equipment as well as parts and engines manufactured by the company moving forward will carry the new name. The company’s dealerships will also have new signs and decor to go along with the rebrand. By the end of 2023, the company intends to have all new equipment and dealerships rebranded.
Dealers have already been made aware of the name change. The company is aiming for a big launch of the new name in March at Con-Expo 2023.