Doosan Machine Tools changes its name to DN Solutions

"The company will be reborn as a manufacturing solutions provider."

Continue to prosper as one of global top three machine tool builders by identifying new growth opportunities

Generate synergistic effects with DN Automotive,an automotive parts manufacturer which became its parent company in January this year,to further grow

Exhibit flagship products and hold a ceremony to announce its new company name at SIMTOS 2022

SEOUL,South Korea,May 26,2022 -- Doosan Machine Tools(CEO: Kim Jae-Seop) announced on May 25,2022 that it will change its name to DN Solutions and be reborn as a total manufacturing solutions leader.

DN Solutions,the new name of Doosan Machine Tools,will be used from June 2,2022 and signifies a new start after the merger with DN Automotive which became its new parent company in January this year.

The D in DN alludes to the 45 years of history of trust built by Daewoo and Doosan,the predecessors of DN Solutions,along with DTR Automotive,the predecessor of DN Automotive. N represents Now & New,the will of the DN Group to open new paths by constantly taking on new challenges now rather than being complacent about past achievements. It also means that it will begin a new and bigger era empowered by the strong synergy between the two companies that have now become one family.

DN Solutions is committed to being reborn as a true global manufacturer under the new name by strengthening distinctive competitive advantages over current growth engines,and proactively building a presence in the areas of future growth through aggressive investment in expanding manufacturing capabilities and sustainable management for social responsibility. It will closely work together with DN Automotive,its controlling shareholder,in identifying new growth engines to become a solutions provider for the global manufacturing industry.

DN Automotive,the controlling shareholder of DN Solutions,is an automotive parts manufacturer founded in 1971 that produces tires,batteries,and VMS (Vibration Management Systems). It is a top three manufacturer in the global VMS market and supplies approximately 30 global leading OEMs including GM and BMW.

"This name change was intended to signify our commitment to becoming a global manufacturer. DN Solutions and DN Automotive create a synergistic effect by working together to find new growth engines and maximize manufacturing capabilities," said Kim Jae-Seop,CEO of DN Solutions. "We are committed to offering integrated manufacturing solutions to a wide-range of industries based on competitive products."

In addition,DN Solutions is participating in SIMTOS 2022,which is held at KINTEX,South Korea from May 23 to 27,2022. Various products featuring the latest technologies are exhibited,including a 5-axis,complex,large machining center as well as a wide-range of products and solutions for IT and semiconductor industries. A ceremony was held to announce the company's new name and share its meaning and the vision for the future.

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