DGAP-News: Senvion S.A. / Key word(s): Takeover/Mergers & Acquisitions
Senvion acquires EUROS as next step of its product strategy
Rotor blade manufacturing, master plug and mould design company to augment in-house blade development and manufacturing
Hamburg: Senvion, a leading global manufacturer of wind turbines, has acquired 100 per cent of the shares of EUROS Group* in an all-cash transaction, just three months after announcing the acquisition of Kenersys assets in India. EUROS, located in Berlin and southern Poland, covers all areas of rotor blade design and production as well as master plug and mould design, backed by its skilled product development team. The fully functional blade, mould and master plug manufacturing facilities in Żory-Warszowice and Ustron in Poland are part of the transaction. The acquisition also includes the production site staff. The facilities in southern Poland are able to produce all onshore mould and blade types, including all blades in the Senvion portfolio.
Jürgen Geissinger, CEO at Senvion, said: "The EUROS transaction successfully builds on Senvion's product innovation and market entry strategy. With the addition of a mould factory and an experienced mould and blade development team, Senvion will be able to reach a shorter time to market for new blades and also be able to produce additional new blades with a reduced time to market. This will enable Senvion to enter new markets with new products more quickly. This strategic move is important to further prepare for our next market entries and also to achieve cost savings and thereby contributing to lower LCoE efforts."
Paulo Silva, Senior Vice President Global Blades at Senvion, added: "Senvion is pleased to announce this partnership with the experienced and skilled blade development team at EUROS. This agreement will help us to benefit from the complementary skill sets and the rich and varied experience of the EUROS team, in addition to expanding and complementing our own blade capacities. Together, we will be able to offer complete blade solutions in-house - from the development and the mould making through to the final blade."
Michael Wolf, Managing Director of EUROS group, states: "EUROS and its employees see the acquisition by Senvion with great optimism. The obtained know-how over the past 20 years about innovative tools for rotor blade engineering for on- and offshore areas including mould design and construction as well as blade production can now be applied on a broader scale. Additionally, we aspire to make use of synergies when cooperating with Senvion's partners to contribute to achieving Senvion's product strategy."
To date, Senvion has produced its blades in Bremerhaven in Germany and Vagos in Portugal. With the addition of the EUROS production sites in Poland, Senvion will control both the end-to-end production cycle and also expand its blade manufacturing capacity by 25 per cent.
In August 2016, Senvion announced the acquisition of the assets of the Indian wind turbine manufacturer Kenersys. The wind turbines K82 (2.0 MW), K100 (2.6 MW), K110 (2.4 MW) and K120 (2.3 MW) are part of the planned acquisition. Additionally, in September, the company presented its new turbine 3.6M140 for medium wind speeds, as well as further turbine upgrades.
Senvion Investor Relations contact:
|46a, avenue John F. Kennedy|
|Grand Duchy of Luxembourg|
|Phone:||+352 26 00 5305|
|Fax:||+352 26 00 5301|
|ISIN:||LU1377527517, XS1223808749, XS1223809390|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Dublin, Luxemburg|
|End of News||DGAP News Service|