HD Hyundai Heavy Industries is set to acquire Doosan Enerbility Vietnam (Doosan Vina), the Vietnamese subsidiary of Doosan Enerbility.
On August 20, HD Hyundai Heavy Industries announced that it had signed a share purchase agreement with Doosan Enerbility for Doosan Vina.
HD Hyundai Heavy Industries will acquire all shares of Doosan Vina held by Doosan Enerbility, with the total transaction amounting to approximately 290 billion KRW.
Established in 2006, Doosan Vina is located about 120 km south of Da Nang in central Vietnam and has been producing thermal power plant boilers, port cranes, and liquefied natural gas (LNG) plant modules.
A sea trial of a 13,000 TEU container carrier built and delivered last year by HD Hyundai Heavy Industries.
HD Hyundai Heavy Industries stated that it plans to maintain the existing businesses at Doosan Vina, while also utilizing the site as a production base for independent tanks and as a hub for its port crane business in the Asian region.
Independent tanks are essential equipment for eco-friendly vessels such as LNG-fueled ships, LPG carriers, ammonia carriers, and liquefied carbon dioxide carriers. Demand for these tanks has been steadily increasing due to recent environmental regulations by the International Maritime Organization (IMO).
Through this acquisition, HD Hyundai Heavy Industries aims to expand its lineup of eco-friendly vessels with global competitiveness and maximize profitability.
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