Doosan Heavy Industries & Development has develop into the biggest shareholder of Doosan Group’s profitable Doosan Gasoline Cell Co. after its proprietor members of the family donated their stakes to enhance Doosan Heavy’s monetary well being, a transfer that’s anticipated to create synergy between the 2 models.
Doosan Gasoline Cell disclosed on Thursday that specifically affiliated individuals of Doosan Corp. together with Doosan Group Chairman Park Jung-won handed over their mixed 23-percent stake, or 12,763,557 shares, in Doosan Gasoline Cell to Doosan Heavy Industries free of charge. The stake is value 606.Three billion gained ($548.1 million) in complete based mostly on Wednesday’s closing worth.
In early September, Chairman Park and different 12 key shareholders signed a deal to donate their stakes in Doosan Gasoline Cell to the group’s cash-strapped flagship unit Doosan Heavy Industries to assist it enhance monetary well being.
Because of the donation, Doosan Heavy Industries is now the largest shareholder of Doosan Gasoline Cell with a 17.77-percent stake, in line with the submitting. The most recent stake handover can also be anticipated to create synergy between the 2 models, which ought to foster the expansion of the group’s environmentally-friendly power enterprise.
Based mostly on main expertise, Doosan Gasoline Cell takes the lead within the power-use hydrogen gas cell market. Doosan Heavy Industries additionally makes hydrogen generators utilizing its fuel turbine expertise and produces hydrogen utilizing renewable power resembling wind energy. Additionally it is participating within the nation’s first liquid hydrogen plant venture.
With Doosan Gasoline Cell’s gas cell expertise, Doosan Heavy Industries will be capable of produce 400-kilowatt gas cells, 3- to 8-megawatt degree wind energy, 60-megawatt small modular reactors, and 270- and 380-megawatt fuel generators.
Doosan Gasoline Cell can also be anticipated to make inroads into abroad markets utilizing Doosan Heavy Industries’ in depth world community and EPC capability.
Shares of Doosan Heavy Industries closed 4.22 p.c larger at 16,050 gained on Thursday whereas these of Doosan Gasoline Cell closed 0.95 p.c decrease at 47,050 gained.
By Han Woo-ram and Lee Eun-joo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]
— to pulsenews.co.kr
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