The sale price of South Korea"s Daewoo Engineering & Construction has been tipped to surpass $3.5 billion.

The auction of the company is expected to begin next month and there has already been fierce competition from six undisclosed consortia.

The Korea Times reported the price could climb as high as four billion dollars because creditors now plan to divest their entire stake in the company after originally planning only a 72% sale.

Daewoo has been under the management 

Russian excavator company caught selling infringing goods According to the report of OJSC Apsheron factory “Lesselmash” (Apsheron, Krasnodar Territory), Rostov department of Russian Antimonopoly Service examined the case af OJSC “Donetsky Excavator” (Donetsk, Rostov District, Russia) concerning violation of antimonopoly legislation. The declarant is the patenter of the invention “disc soil-processing tool” (harrow BDTM-3P-05), which is confirmed by invention patent #2185044. As estimated, OJSC “Donetsky Excavator” was producing and selling 

Tovel begins to serve Thomas Thomas completes acquisition of Canadian firm Tovel. This purchase gives Thomas new range of rough-terrain forklifts, other machinery.

Thomas Equipment Inc. said it has completed the purchase of substantially all of the assets of privately held 1221549 Ontario Limited dba Tovel Manufacturing, including all inventory, trademarks and patents, customer lists, designs, engineering drawings and production facilities related to Tovel"s rough terrain forklifts, telescopic handlers, attachments, 

Komatsu is expected to beat another forecast Japan"s Komatsu said today it might beat its earnings forecast for the current financial year due to strong construction machinery sales in the US, Europe and other overseas markets.

Komatsu, the number one Japanese construction equipment maker and number two in the world, had forecast a net operating profit of $1.4 billion for the fiscal year ending March 31.

The company"s estimate in November last year also predicted group sales of $14.1 billion and net profit of $900 million. 

Kubota expands its presence in the US Japan"s Kubota has expanded its US operations with the opening of a new manufacturing facility in Jefferson, Georgia.

The new plant is expected to produce about 70,000 equipment implements per year and employ about 500 people under the name Kubota Industrial Equipment.

Kubota president Daisuke Hatakake said US sales for the company had surpassed 1.1 million units and it expected continued growth.

The plant will initially manufacture implements such as loaders and