Duo announces merger with Denbow and deal with Doosan
Hillhead exhibition opened today (26 June) with exhibitors Duo announcing a merger with Denbow International.
Terry Last, the chairman of both companies, made the announcement on the Duo stand at Hillhead. The two companies come together under a new entity called Duo Group Holdings Ltd. Mr Last said the merged businesses would “have a combined ability to help customers achieve their aims in a very cost effective manner”.
At the same time, Duo have announced a major deal with Doosan, establishing a new company called Seoul Ltd that will sell Doosan machinery to national account customers in quarrying and waste.
Alex Moss has agreed to remain CEO of Duo Group Holdings and its headquarters will be at Duo’s headquarters in Allesley, Coventry. No job losses are planned. In fact, the hoped for increased support of shareholders is expected to result in more jobs being created. Alex Moss said: “We have some very, very ambitious plans.” They include opening a new workshop in the Midlands for plant maintenance.
Mr Last said Duo Group Holdings would “embrace markets wider afield as opportunities become more apparent from Brexit”. Some of those benefits are expected in Africa. Duo Group Holdings expects to achieve turnover of £100million in its first year.
He said the moves showed Duo is open to offers and suggestions from suppliers.
Posted date : 27-06-2018
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