GE to buy wind turbine rotor blades maker for $1.65 billionStaff Writer | October 11, 2016
General Electric will buy LM Wind Power, a maker of rotor blades used in wind turbines, from private equity firm Doughty Hanson for $1.65 billion.
Acquisition The largest supplier of rotor blades
GE said it intends to operate LM Wind Power as a standalone unit within its renewable energy operations.
LM Wind Power operates 13 factories in eight countries including Denmark, Spain, Poland, Canada, the United States, India, China and Brazil.
GE said it expected the deal, which would close in the first half of 2017, to add to earnings in 2018.
GE also said the integration of Alstom Power was on track. ■