HD Hyundai Heavy Industries Acquires Doosan Enerbility's Vietnamese Subsidiary 'Doosan Vina'

Acquisition Amount Reaches 290 Billion KRW, 100% Stake Secured
To Be Utilized as a Strategic Hub for Port Crane Business in Asia
Doosan: "Timely Investment in Rapidly Growing Core Businesses"

HD Hyundai Heavy Industries, the intermediate holding company for HD Hyundai's shipbuilding division, will acquire Doosan Enerbility Vietnam (hereafter referred to as Doosan Vina), the Vietnamese subsidiary of Doosan Enerbility.

On August 20, HD Hyundai Heavy Industries announced that it had signed a share purchase agreement (SPA) with Doosan Enerbility for the acquisition of all shares of Doosan Vina. The total acquisition amount is approximately 290 billion KRW. Established in 2006, Doosan Vina is located in the Dung Quat Industrial Complex in Quang Ngai Province, Vietnam, and has produced thermal power plant boilers, petrochemical equipment, port cranes, and LNG plant modules.

Exterior view of Doosan Vina. Provided by HD Korea Shipbuilding & Offshore Engineering

HD Hyundai Heavy Industries plans to maintain the existing business while utilizing the site as a production base for independent tanks used in LNG, LPG, ammonia, and liquefied carbon dioxide carriers. Additionally, the company aims to develop it as a strategic hub for the port crane business in the Asian region, thereby responding to the rapidly growing demand for equipment driven by the expansion of eco-friendly vessels.

A representative from HD Hyundai Heavy Industries stated, "This acquisition is the result of mutual agreement between both companies, and government cooperation was also a significant help. We will strengthen our competitiveness in the global eco-friendly ship market and maximize profitability by securing production capacity."

Regarding the sale, Doosan Enerbility explained, "This is to secure investment resources to focus on our core businesses, such as large-scale nuclear power plants, SMRs (Small Modular Reactors), and gas turbines, in response to the expanding global energy demand." In fact, earlier this year, Doosan Enerbility raised 150 billion KRW through the listing of its Czech subsidiary, Doosan Skoda Power, and has now secured additional funds through this sale. CEO Park Sanghyun stated, "All secured resources will be invested in growth businesses, including the expansion of SMR and gas turbine facilities."

Separately from this sale, Doosan Enerbility plans to continue its business in Vietnam. In June, the company successfully secured the O Mon 4 gas combined cycle power plant project and intends to continue participating in local energy infrastructure projects in the future.

This content was produced with the assistance of AI translation services.