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Greetings for the New Year

DIVEU Managing Director, Harry Chung, believes 2012 will prove to be an exciting year for Doosan.

A new year is here and it is time to reflect on the road ahead. However, let me begin by saying that we greatly appreciate the hard work and contribution of all our colleagues throughout 2011.

Doosan Industrial Vehicle Europe (DIVEU) has faced a number of challenges thanks to the unprecedented global financial crisis in 2009. To make matters worse, we have seen a great deal of uncertainty in the Euro Zone and pressure on key European economies such as Spain, Italy and Greece.

Fortunately, we have weathered the storm well and fully expect to lay the foundation for further growth for our material handling business throughout 2012. It is a credit to our global reach that we are able to offset some of the turbulence in mature markets like Europe, with success in rapidly developing nations elsewhere.

That said, we are pleased to have excellent representation in Europe. Our network in German is very strong; we have high profile customers throughout Scandinavia; a new focus for Spain and Portugal and good acceptance of our electric products in Italy. We can hopefully build on these factors to make our business even more focussed. Above all, we will operate our organization more agilely and efficiently. For that, we will be more responsive to the voice of our dealers and customers and find solutions from the needs of each market.

Our aftermarket program which is started this year will begin in earnest and the introduction of new products, such as the European-style reach truck, will be the base of our key account development. A single product may not make a huge difference in terms of sales, but it does demonstrate the qualitative improvement of our business, as we continue to look towards the future. DIVEU has many reasons to be positive about the challenges ahead and we will remain enthusiastic and focused! We wish you good luck and much happiness in the following year!

Harry Chung, Managing Director, DIVEU

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Doosan Industrial Vehicle Europe

Telephone

+32 (0) 3 760 09 87

Fax

+32 (0) 3 760 09 89

Europark-Noord 36A
9100 Sint-Niklaas (Belgium)

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Monday - Friday 8:30 AM - 5:00 PM

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