Details to Be Announced Later
Doosan Group announced in a statement on April 13 that it has submitted a plan to improve Doosan Heavy Industries & Construction's financial structure to the company's creditors.
The statement said Doosan Group and the major shareholders of Doosan Heavy have done their best to prepare the plan. It added Doosan Heavy Industries & Construction is also reviewing all assets that can be sold or liquidated for normalization of management and prompt improvement of its financial structure. The ailing company will focus all of its capabilities on normalizing operations through sincere implementation of the plan.
The financial structure improvement plan submitted to creditors will be finalized after consultation with creditors and a resolution by the board of directors.
Yet the group stopped short of disclosing the details of the play. It said further details will be announced after the plan is confirmed.