Flender has completed the acquisition of Finnish wind turbine gearbox manufacturer Moventas, after receiving approval from the authorities.
The acquisition marks the next step in Flender’s growth strategy after progressing into independence last year, the company said.
Moventas is now solely owned by Flender.
Flender Group said it is now starting the merger of the businesses.
During the merger process, the businesses of both Flender and Moventas will continue to run as usual, it added.
Flender Group chief executive Andreas Evertz said: “We are very happy to announce the closing of this strategic acquisition.
“Moventas’ expertise and product portfolio is a perfect fit into our strategy of being the trusted partner for the wind market and the more and more important energy transition.”
Flender president of wind gears Aarnout Kant said: “We are pleased that the Moventas colleagues joined the team.
“Together, we continue to provide the wind market with cutting-edge technologies and provide expanded service expertise that will even better support our customer’s needs.”