Latest news from Heavy Lift & Project Forwarding International Magazine

GE to buy LM Wind Power

October 11 - Doughty Hanson - a London based private equity company - has agreed to sell its stakes in Danish manufacturer and supplier of wind turbine blades, LM Wind Power, to General Electric (GE) for EUR1.5 billion (USD1.65 billion).

The transaction is subject to customary regulatory and governmental approvals, and is expected to close in the first half of 2017.

LM Wind Power has a global manufacturing footprint of 13 sites in eight countries across four continents.

In June 2016, LM Wind Power unveiled what is claimed to be the world's longest ever blade at 88.4 m long. Read more about the huge blade's first journey here.

Following the closing of the deal, GE intends to operate LM Wind Power as a standalone unit within GE Renewable Energy and states that it will continue to fully support all industry customers with the aim of expanding these relationships. GE will also retain the ability to source blades from other suppliers.

LM Wind Power will continue to be led by its existing management team and remain headquartered in Denmark.

To read more about consolidation in the supply chain, take a look at the introduction to last week's Wednesday Wire here.

 

LM Wind Power's 88.4 m long blade on the move in Denmark.

 

www.ge.com

www.lmwindpower.com  

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