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Doosan Heavy Industries & Construction acquires Mitsui Babcock |
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| Doosan Heavy Industries & Construction acquires Mitsui Babcock |
| 06-Nov-2006 |
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Mitsui Babcock, the UK based multi-specialist energy services company and NIA member, has been sold by its parent company, Mitsui Engineering & Shipbuilding, to Doosan Heavy Industries (UK) Limited, for 20 billion Japanese Yen.
Doosan Heavy Industries (UK) Limited is a subsidiary of Doosan Heavy Industries & Construction, the South Korean engineering and construction company. Upon completion of the deal Mitsui Babcock will be known as Doosan Babcock.
Doosan Babcock will remain an independent, UK based company, with offices and employees throughout the UK and across mainland Europe, Asia and the USA. With the combined and enhanced expertise resulting from the deal, the company will focus on global opportunities in major power plant engineering, procurement and construction projects and aftermarket services to the energy industry.
It is expected that the deal will be completed by January 2007. |
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