Iljin seeks to expand nuclear business
South Korean chemical engineering equipment manufacturer Iljin Energy is considering expanding its nuclear energy business by acquiring a nuclear equipment maker, its CEO said in an interview with The Korea Herald. Lee Sang-bae said that the company has 18 billion won ($14.3 million) in cash to finance the purchase. He said that Iljin sees its solar energy and nuclear equipment businesses as its new growth engines. He expects the nuclear business to generate sales of 50 billion won ($40 million) by the first half of 2010. The main customers for Iljin's nuclear equipment business are Korea Atomic Energy Research Institute (KAERI) and Korea Hydro and Nuclear Power (KHNP). The company has developed a tritium storage system, which could be useful for nuclear fusion reactors. Sang-bae said that Iljin expects to mass-produce the storage systems starting in the second half of 2014.
South Korean chemical engineering equipment manufacturer Iljin Energy is considering expanding its nuclear energy business by acquiring a nuclear equipment maker, its CEO said in an interview with The Korea Herald. Lee Sang-bae said that the company has 18 billion won ($14.3 million) in cash to finance the purchase. He said that Iljin sees its solar energy and nuclear equipment businesses as its new growth engines. He expects the nuclear business to generate sales of 50 billion won ($40 million) by the first half of 2010. The main customers for Iljin's nuclear equipment business are Korea Atomic Energy Research Institute (KAERI) and Korea Hydro and Nuclear Power (KHNP). The company has developed a tritium storage system, which could be useful for nuclear fusion reactors. Sang-bae said that Iljin expects to mass-produce the storage systems starting in the second half of 2014.
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