Flender has taken over Moventas
Global drive specialist Flender has announced the successful completion of the transaction to acquire Finnish wind turbine gearbox manufacturer Moventas. This follows approval by the relevant authorities. Moventas is now fully owned by Flender.
The acquisition is the next step in Flender's growth strategy following last year's move to go independent. "We are very pleased to announce the completion of this strategic acquisition. Moventas' expertise and product portfolio fit perfectly into our strategy of being the reliable partner for the wind market and the increasingly important energy transition," said Andreas Evertz, CEO of Flender Group. "We are delighted that our colleagues from Moventas have joined our team. Together, we will continue to provide the wind market with leading-edge technologies and expand our service expertise to better support our customers' needs," says Aarnout Kant, President Wind Gears at Flender.
The Flender Group is now beginning the process of merging the two companies. During the merger process, the business of Flender as well as Moventas will continue as usual.