 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Moog Completes Investment In Wind Energy Business
East Aurora NY (SPX) Jun 05, 2009 Moog has announced that it has acquired the remaining 60% ownership of the wind energy business of LTi REEnergy GmbH in Unna, Germany and Shanghai, China. The consideration was euro 12 million in cash paid and the issuance of a euro 9.5 million note payable in February 2010. The company produces electric servo controllers and complete drive systems that position rotor blades on wind turbines. Sales for the past twelve months were euro 95 million. "Our aim is to bring Moog's motion control experience to bear on the challenges facing today's wind turbine makers and buyers," said Steve Huckvale, President of Moog's Industrial Systems Group. "Our strategy is to advance the design of the wind industry's motion controls by creating new, high-performance solutions ranging from pitch control to rotor monitoring." Projected sales for these products for the last four months of fiscal 2009 of $60 million were included in previously forecasted fiscal year 2009 guidance. The acquisition will be reported as part of the Industrial Systems segment. Share This Article With Planet Earth
Related Links Moog Wind Energy News at Wind Daily
PowerAdvocate Receives DOE Funding To Accelerate Wind Power DevelopmentBoston MA (SPX) May 29, 2009 PowerAdvocate is pleased to announce that it has been selected to receive a DOE Stimulus Funding award to support the "20% Wind Energy by 2030" initiative. PowerAdvocate will specifically concentrate on overcoming supply chain obstacles to Wind Power. In order to meet the 20% Wind Energy scenario by 2030, significant investment will need to occur into the domestic wind supply chain. ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook