in News Departments > FYI
print the content item

Toronto-based Americas Wind Energy Corp. (AWE) and Emergya Wind Technologies Holdings N.V. (EWT), an international supplier and manufacturer of DIRECTWIND wind turbines based in the Netherlands, have entered into a letter of intent for EWT to acquire all issued and outstanding shares of AWE in a cash merger transaction.

The merger transaction is subject to completion of EWT's due diligence and a definitive merger agreement, AWE stockholder approval, as well as customary third-party and regulatory approvals.

As a part of its consolidation and market development strategy, through the acquisition of AWE, EWT will control the exclusive rights to manufacture, sell and distribute the DIRECTWIND turbine product line in North America. AWE has licensed these rights from EWT since 2004.

"Joining with AWE in accessing the North American market for our products will be an important milestone that further demonstrates our global commitment to our customers and stakeholders," says Gerry van der Sluys, president and CEO of EWT. "We are pleased that upon completion of the merger we will be able to direct and control all sales, customer service and manufacturing efforts of our DIRECTWIND turbines within the fastest-growing market for wind power."

SOURCE: Americas Wind Energy Corp.


Trachte Inc._id1770
Latest Top Stories

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Renewable NRG_id1934
Canwea_id1984