Gearboxes for wind turbines
Flender completes acquisition of Moventas
Bocholt-based drive technology manufacturer Flender has completed the transaction to acquire Finnish wind turbine gearbox manufacturer Moventas.
After the relevant authorities approved the acquisition, Moventas is now fully owned by Flender. The company sees the acquisition as the next step in its growth strategy following the spin-off from Siemens and the sale to US private equity firm The Carlyle Group last year.
The Flender Group will now begin the process of merging the two companies. During the merger process, the business of Flender and Moventas will continue as usual.
The integration of Moventas' engineering and service capabilities is expected to further drive Flender's business in wind energy drives under the existing Winergy product brand. The 22 GW installed base of Moventas gearboxes, service know-how and multi-brand service capabilities are expected to be the leverage for further growth in the Winergy service business. For wind energy customers, this would result in a comprehensive service solution from a single source. Moventas' global manufacturing and service network adds 3 GW to Flender's wind gearbox assembly capacity and complements the company's on-site service and gear manufacturing capabilities.
