GE has acquired Danish blade manufacturer LM Wind Power for €1.5bn in a deal that is expected to close in the first half of next year.
LW Wind Power has 13 factories in eight countries across four continents. The transaction is expected to bolster GE’s renewable energy business as it looks to grow its clean energy portfolio.
“The offer from GE makes clear commercial sense for the growth of LM Wind Power,” said LM Wind Power chief executive, Marc de Jong.
“It provides us with the necessary stability, visibility and strength to continue to realise the ambitious growth plans of the business and fully utilise our advanced design and technology, improve our manufacturing capabilities and reliability, expand our global footprint and reduce the Levelized Cost of Energy.”
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