Doosan Heavy Industries & Construction to become Doosan Enerbility
The company's board met Tuesday and voted for the change. Shareholders approval will be sought at the annual meeting scheduled for Mar. 29.
Enerbility is a combination of the words energy and sustainability, and also suggests the word "enable," the company said. Doosan said the new name symbolizes its determination to make a greener earth with its energy technologies and always seek sustainable business models.
Doosan Heavy is currently operating many new businesses, such as those related hydrogen, gas turbines and offshore wind. It is expanding to 3D printing and waste management.
The name change is the first in 21 years. Established as Hyundai International in 1962, it was renamed Korea Heavy Industries & Construction in 1980 and Doosan Heavy Industries & Construction in 2001.
"The new name is suitable for the fast-changing business environment and the future directions we would like to take," said a spokesperson for Doosan Heavy Industries & Construction.
BY SARAH CHEA [firstname.lastname@example.org]