Doosan Group - Recently Acquired Companies

Recently Acquired Companies

• American Engineering Services Inc.(currently, Doosan Hydro Technology Inc.) in 2005.

• IMGB (currently, Doosan IMGB) in 2006

Doosan IMGB, the largest casting and forging company in Romania.

• Doosan Babcock Energy in 2006

(formerly Mitsui Babcock) was purchased in 2006 from Mitsui Engineering & Shipbuilding of Japan. As one of the four companies in the world with its own proprietary technology in the field of boiler engineering, Doosan Babcock Energy was established in the U.K. by US-based Babcock & Wilcox in 1891. Currently, Doosan Babcock is headquartered in Crawley in the UK and has an R&D centre and production base in Renfrew, Scotland. It also has subsidiary companies in Germany, Poland, USA and China, which serve as power generation service centers. Doosan Babcock has supplied boilers to over 30 countries including the U.S. and China as well as Europe and has a license agreement with Harbin Boiler, the largest boiler maker in China and producer of 26,000MW of boiler to date. Doosan Babcock has been expanding its nuclear power plant business in the U.K. since the acquisition of the nuclear power business unit of Rolls Royce in 2002.

• Bobcat Company in 2007

Bobcat,Utility Equipment and Attachments from Ingersoll-Rand As the world’s largest compact construction equipment business, Bobcat, Utility Equipment and Attachments business have an established network of over 2,700 dealers in the U.S. and Europe and operates 16 manufacturing plants in six countries around the world. In 2006 the three businesses generated approximately US$2.6 billion in sales and US$370 million in operating profits and currently maintain the highest world market share in their respective business sectors. The "Bobcat" name is well recognized worldwide as a leading construction equipment brand. Doosan Infracore's primary objective of the acquisition is to enhance its overall product portfolio by adding compact construction equipment to its existing medium and large-scale construction equipment product lines and to help expand and strengthen Doosan Infracore's global manufacturing and sales networks. The acquisition also provides Doosan Infracore with world-class technologies and brand names. Upon completion of this transaction, Doosan Infracore will have a combined network of over 3,700 dealers worldwide and 20 manufacturing plants in countries such as the U.S., China, Belgium, France and the Czech Republic. As a result, Doosan Infracore will be well positioned to become a market leader in the U.S., Europe and China. Pro forma for the transaction, Doosan Infracore's sales will be approximately US$7.4 billion, which will improve the Company's worldwide ranking from 19th to 7th in the construction equipment sector.

• Moxy Engineering in 2008.

Moxy Engineering is a Norwegian manufacturer of articulated haulers for off-road use in the earth moving and construction industries. Moxy was founded by the industrialist Birger Hatlebakk, who had previously founded the Glamox factory in Molde.

• Advanced Technology Lubben (ATL) in 2008.

ATL is located in Lubben, outside Berlin(Germany) and has the original technology to support the production of material handling equipment for warehouses and airports.

• Skoda Power in 2009

SKODA POWER is a manufacturer and supplier of SKODA design steam turbines from 5 MW to1,200 MW, machine halls and of customer services for fossil and nuclear power plants, combined cycles, co-generation and incineration plants.