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.”




Trachte Inc._id1770
Latest Top Stories

Sen. Grassley Makes Another Legislative Push For Wind PTC Extension

U.S. Sen. Chuck Grassley, a long-time wind power advocate, recently made an effort to bring attention to the importance of a production tax credit extension.


Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.

Canwea_id1984
Renewable NRG_id1934
Navigant_id1983