Doosan Heavy buys German energy company for US$74.6 million

South Korea’s leading power equipment maker, Doosan Heavy Industries & Construction Co., announced that its European affiliate, Doosan Power Systems Ltd. (DPS), had recently purchased the German engineering and energy company AE&E Lentjes GmbH for 87 billion won (US$74.6 million). AE&E Lentjes GmbH was founded in 1928 and is a manufacturer of boiler products and specializes in plant design and engineering. It also holds the rights to many original technologies that are designed for use in eco-friendly circulating fluidized bed (CFB) boilers. The CFB boilers can use low-grade coal and different biomass as fuel. As such, the CFB broilers release less sulfur oxides and nitrogen oxides. Doosan said the purchase will allow the company to meet the projected increase in demand for environmentally clean power generation. (November 25, 2011)