Alstom Completes Acquisition Of Spanish Wind Turbine Company Ecotècnia
Alstom has just completed the acquisition of Spanish wind turbine company, Ecotècnia, for €350 million (on a debt free/cash free basis) based on the January 1st 2007 financial results. The finalization of the acquisition, which had been announced on 25 June 2007, was subject to transforming the company from a cooperative into a limited liability company. This acquisition is described as an important step in adding wind power generation to Alstom’s existing renewable energies offerings. Alstom will bring its investment capacity, industrial footprint and global reach to Ecot�¨cnia, as well as the access to the Group’s technological resources and plant integrator capabilities.
Headquartered in Barcelona, Ecotècnia designs, assembles and installs a wide range of onshore wind turbines spanning 1,3 to 2 MW. It is currently developing new wind turbines with a capacity of 3MW. The company, which employs 765 people and has five factories in Spain, has installed or is installing more than 1,500 wind turbines in 70 wind farms, corresponding to a total capacity of 1,433MW (about 2% of the worldwide installed base). In 2007, Ecotècnia should have sales of more than €350 million, and currently generates about 50% of its sales from European countries outside Spain.
With this acquisition, Alstom states that it is entering a fast growing market segment and completes an already large offering of technologies allowing its customers to meet the ever more stringent environmental regulations leading to the suppression of traditional pollutants and the reduction of CO2 emission. Alstom states that it is well positioned to help meet those needs as its technologies encompass the entire spectrum of resources for power generation, from conventional power plants using fossil fuels, to nuclear power plants, hydro power plants and now wind and solar farms.
