Doosan Heavy takes over Czech turbine maker for 450 mln euros

SEOUL, Sept. 14 (Yonhap) -- Doosan Heavy Industries & Construction Co., South
Korea's leading power equipment maker, said Monday that it has signed a deal to
buy a Czech turbine maker for 450 million euros (US$655 million).
In a statement, Doosan Heavy said it purchased all shares of Skoda Power AS from
Prague-based Skoda Holdings AS.
The deal is the latest in a series of takeovers sought by Doosan Group, which
purchased the world's top compact construction equipment firm, Bobcat, as well as
two other units for US$4.9 billion in 2007.
"The purchase of Skoda Power AS will help us secure key turbine-related
technology, and compete with global rivals such as GE and Siemens," the company
said in a statement.
Skoda Power, a subsidiary of Skoda Holdings, is a leading European manufacturer
and supplier of technological equipment in the field of power generation.
sam@yna.co.kr
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