RSS   Newsletter   Contact   Advertise with us

GE to buy wind turbine rotor blades maker for $1.65 billion

Staff 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.
LM Wind Power
Acquisition   The largest supplier of rotor blades
Denmark-based LM Wind Power is the largest supplier of rotor blades to GE, and the deal will help the U.S. industrial conglomerate in-source turbine blade design and manufacturing.

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.