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.