Valmont Wraps Up Sale of Offshore Wind Business to Euro Steel


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.

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