PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: Vestas Wind Systems A/S

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Vestas Acquires US Independent Service Provider UpWind Solutions - The acquisition accelerates Vestas’ profitable growth strategy and strengthens Vestas’ ability to service non-Vestas turbines - Vestas.com
Vestas Acquires US Independent Service Provider UpWind Solutions

 

NewswireToday - /newswire/ - Aarhus N, Denmark, 2015/12/07 - The acquisition accelerates Vestas’ profitable growth strategy and strengthens Vestas’ ability to service non-Vestas turbines - Vestas.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Vestas has today acquired UpWind Solutions, Inc. and its subsidiaries (“UpWind Solutions“), a leading independent service provider in North America, with headquarters in San Diego, California. With about 310 employees, UpWind Solutions currently services wind power plants in nine US states with a total capacity of more than 3 GW. The wind power plants under service represent a diverse customer base and include turbines from a number of manufacturers. UpWind Solutions also supplies parts for most major turbine technologies, performs blade inspections, and offers various performance upgrades.

“The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business. We are broadening our capabilities and increasing the size of our addressable market for all major turbine technologies. In short, the acquisition is a strong strategic fit,” says Group Senior Vice President Christian Venderby, Vestas Global Service.

“North America is an important market for Vestas, and this acquisition will contribute to Vestas becoming the customers’ preferred fleet-wide service partner,” says Chris Brown, President of Vestas Sales and Service Division in the United States and Canada. “We are very pleased to welcome UpWind Solutions and its 310 employees to become part of the Vestas organisation.”

Vestas has more than 50 GW under service worldwide, and together Vestas and UpWind Solutions will service approximately 17 GW of Vestas and non-Vestas turbines in the USA and Canada with ambitions for further growth.

“Vestas represents high quality technology and service and shares UpWind Solutions’ passion for excellence. We’re delighted to become part of the global wind industry leader, and look forward to jointly ensuring that our expanded customer base receives the best possible operations and maintenance service for their fleets,” says CEO Peter Wells, UpWind Solutions.

The acquisition price for UpWind Solutions is USD 60m (approximately EUR 55m) on a debt and cash free basis. The consideration has been paid in cash from readily available sources. On a standalone basis excluding synergies, UpWind Solutions is expecting for 2015 to report consolidated revenues of USD 55m (approximately EUR 50m), an EBITDA of USD 3.4m (approximately EUR 3.1m), and total assets of approximately USD 20m (approximately EUR 18m).

The acquisition of UpWind Solutions is effective as of today. Vestas expects the acquisition will have only a limited effect on Vestas’ expected result for 2015. Outlook for 2015 revenue and EBIT margin before special items are maintained, while total investments are now expected to amount to approximately EUR 400m and free cash flow is consequently expected to be between EUR 750m and 950m for 2015.

Contact: Vestas Wind Systems A/S, Denmark
Hans Martin Smith, Senior Vice President, Investor Relations
T: +45 9730 8209

Christian Venderby, Group Senior Vice President, Vestas Global Service
Chris Brown, President of Vestas Sales and Service Division in the United States and Canada
For more information, or to arrange an interview with Christian Venderby or Chris Brown, please contact Michael Zarin.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Vestas Wind Systems A/S

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Vestas Acquires US Independent Service Provider UpWind Solutions

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Vestas | UpWind Solutions
Publisher Contact: Michael Zarin - Vestas.com 
+45 4084 1526 mizar[.]vestas.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Vestas Wind Systems A/S securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Vestas Wind Systems A/S / Company Profile


Read Energy Most Recent Related Newswires:

Enel and Luxottica Group Inaugurate Innovative Mini-biomass Plant in Northern Italian Town of Agordo
The Abraaj Group and ENGIE to Develop a Wind Power Platform in India
Enel Starts Operation of South America's Two Largest Solar Parks in Brazil
Anheuser-Busch and Enel Green Power Announce Renewable Energy Partnership
EDP Renováveis and ENGIE Consortium Awarded Long-term CfD for 950 MW Offshore Wind Project in UK
E-Distribuzione Installs over A Million Electronic 2.0 Open Meters
ENGIE, through its Subsidiary ENGIE Axima, has Opened Exclusive Negotiations to Buy MCI, French Specialist in Industrial and Commercial Refrigeration
Enel Starts Construction of Peru’s Largest Wind Farm
GE Hits 5GW Milestone of Wind Energy in Brazil
Enel Starts Operations of Delfina Wind Farm in Brazil
GE to Install Advanced Wind Turbines for 150 MW Clean Power Project in Pakistan’s Jhimpir Corridor
ENGIE to Develop its First Renewable Project in Mongolia
Enel Starts Construction of Ayanunga Hydro Plant in Peru
Sundance Square and Green Mountain Energy Announce Extended Clean Energy Partnership
Enel Signs Tax Equity Agreement for 300 MW Red Dirt Wind Project in the USA

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)