French firm Alstom buys Spanish wind firm Ecotecnia
26 June 2007, PARIS - French engineering company Alstom SA said Tuesday it agreed to buy Ecotecnia, a Spanish wind turbine company, for EUR 350 million (US$471.2 million) in cash.
26 June 2007
PARIS - French engineering company Alstom SA said Tuesday it agreed to buy Ecotecnia, a Spanish wind turbine company, for EUR 350 million (US$471.2 million) in cash.
The deal does not include the assumption of any debt.
Barcelona-based Ecotecnia designs and assembles wind turbines for the Spanish energy market, Alstom said in a statement. The company has installed or is installing more than 1,500 wind turbines in 72 wind farms.
"This acquisition, when completed, will consolidate Alstom's position as the company with the broadest and most complete range of products and systems in power generation," Alstom said in a statement.
Separately, Oxford Instruments, a provider of high-technology tools and systems, said it agreed on an alliance with Alstom Magnets and Superconductors _ a subsidiary of Alstom.
The "alliance will be focused on winning supply contracts in the European Union for niobium-tin superconducting strand" used in nuclear fusion, the company said.
Alstom shares gained 0.2 percent to EUR 119.02 (US$160.23) in Paris.
[Copyright AP with Expatica]
Subject: Spanish news