Doosan Heavy buys Skoda Power

Korean heavy industries company Doosan Heavy Industries Construction will buy Czech power plant equipment maker Skoda Power for 450 million $657 million.

Gyeongnam-based Doosan Heavy is buying 100% of Skoda Power from Skoda Holdings. The acquisition will give the Korean company access to the proprietary Skoda turbine technologies used in power plants, adding capabilities in the core technologies for boilers, turbines, and generators, which are the three key components of power plants. Following this deal, the Doosan group will be a complete plant supplier with the capability to provide engineering, procurement and construction EPC solutions.

Doosan Heavy has so far built over 300 nuclear, thermal and hydro power plants. It has another 60 under...