Valmont Industries Inc. has completed the previously announced sale of Valmont SM, its offshore wind business. The company entered into a definitive agreement in November to sell the offshore wind business to Euro Steel, a Denmark-based supplier of steel products to the European wind market.
The transaction will generate a GAAP diluted loss per share of approximately ($1.20) to ($1.45), nearly all due to a non-cash accumulated currency translation loss.
Founded in 1988, Euro Steel Denmark supplies steel plates, beams and other products to turbine manufacturers in European wind markets.
