Doosan buys German energy company

Doosan Heavy Industries & Construction Co., Korea's leading power equipment maker, said Sunday that it has purchased a German engineering and energy company for 87 billion won ($74.6 million).

It said Doosan Power Systems Ltd. (DPS), the company's European affiliate, bought AE&E Lentjes GmbH. The company, founded in 1928, specializes in plant engineering and design, and is a manufacturer of cutting-edge boiler products.

The German company holds the rights to many original technologies for eco-friendly circulating fluidized bed (CFB) boilers, which have good global growth potential.

CFB boilers are designed to release fewer pollutants like sulfur oxides and nitrogen oxides, and can use low-grade coal and various biomass as fuel.

Doosan said the latest purchase will allow it to meet the expected rise in demand for environmentally clean power generation and assist its effort to enter the large European and U.S. markets. (Yonhap)