Doosan buys AE&E's power equipment base in Chennai

Doosan Heavy Industries and Construction Company has completed the acquisition of the Chennai plant of Austrian power company AE&E. While the consideration amount was not disclosed, the significance of the acquisition lies in Doosan getting a manufacturing base in the growing Indian market for power plant boilers. With Doosan coming to Chennai, the city will host one more South Korean major, after Hyundai (cars), Samsung (television sets) and Lotte (confectionery). Contact: Doosan Heavy Industries and Construction Company. Website: www.doosan.com