Moog Inc. (NYSE: MOG.A and MOG.B ) announced that it has acquired the remaining 60% ownership of the wind energy business of LTi REEnergy GmbH in Unna, Germany and Shanghai, China. The consideration was €12 million in cash paid and the issuance of a €9.5 million note payable in February 2010. The company produces electric servo controllers and complete drive systems that position rotor blades on wind turbines. Sales for the past twelve months were €95 million.
“Our aim is to bring Moog’s motion control experience to bear on the challenges facing today’s wind turbine makers and buyers,” said Steve Huckvale, President of Moog’s Industrial Systems Group. “Our strategy is to advance the design of the wind industry’s motion controls by creating new, high-performance solutions ranging from pitch control to rotor monitoring.”
Filed Under: Drives (servo) + amplifiers, Green engineering, Motion control • motor controls, Motors • servo