HD Korea Shipbuilding & Offshore Engineering (HD KSOE), a subsidiary of the Korean conglomerate HD Hyundai, has acquired Doosan Vina, a Vietnamese company owned by Doosan Enerbility, for 290 billion won ($207 million). The deal is part of HD KSOE’s strategy to expand its production of eco-friendly vessels by securing a key manufacturing foothold in Vietnam.
Strategic Benefits for Both Companies
The acquisition is mutually beneficial for both parties. HD KSOE gains a new regional base in Central Vietnam, which it plans to utilize for producing independent tanks and port cranes for the Asian market. Independent tanks are crucial components for modern, eco-friendly vessels that run on fuels like LNG, ammonia, and liquefied carbon dioxide. This move is expected to bolster HD KSOE’s competitiveness in the global market for green ships. Doosan Enerbility, on the other hand, will utilize the proceeds from the sale to invest in its core businesses, including small modular reactors (SMRs) and gas turbines, which are experiencing increasing demand.
Doosan Vina’s Role and Future
Established in 2006, Doosan Vina has been manufacturing boilers for thermal power plants, port cranes, and modules for liquefied natural gas plants. HD KSOE plans to continue these existing operations at the site. The acquisition not only expands HD KSOE’s production capacity for eco-friendly equipment but also positions it to maximize profitability by strengthening its lineup of globally competitive, environmentally friendly vessels.
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Source: The Korean Herald
