in News Departments > New & Noteworthy
print the content item

Turbine component maker LM Wind Power Group has agreed to sell its Svendborg Brakes company to Altra Holdings Inc., a Massachusetts-headquartered supplier of power transmission and motion control products.

Under the definitive agreement, Altra Holdings will buy Svendborg Brakes for a cash consideration of EUR 80.1 million, which is payable upon completion of the acquisition. Completion is subject to receipt of German regulatory approval and is expected to take place during the fourth quarter of this year.

Svendborg Brakes was acquired in 2008 and integrated into LM Glasfiber to form the LM Wind Power Group in 2009. Founded in 1884, Svendborg is a global manufacturer of caliper brakes, offering engineered solutions to the mining and energy markets.

“Svendborg Brakes has performed well as part of the LM Wind Power Group in challenging circumstances” says LM Wind Power Group CEO Leo Schot. “LM Wind Power will renew its focus on the wind industry. The company has clear strategic growth plans, a strong, global manufacturing footprint which ensures it is well positioned in growth markets and new, advanced wind turbine technology, to secure its part in the rapidly growing offshore wind market.”



IowaDeptEconDevel_id1863

Helukabel_id1908
Latest Top Stories

Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.

WomenofWind_id
UEA_id1896
Acciona_id1907
JLG_id1900
bonfiglioli_id1913
AWEA_id1886