Nordex’s merger with Acciona will be legally and commercially completed at the start of April, the Germany turbine manufacturer said today.
Antitrust clearance for the deal has recently been received, Nordex said.
The companies are jointly seeking sales of over €3.4bn and an EBITDA margin in excess of 7.5% in 2016.
Nordex said that, in addition to current demand, the outlook is also based on an increased order backlog for turbine engineering.
Firm financed orders placed with Nordex increased by 14% to €1.7bn from 2014. This will be supplemented by the company’s service business and, from the second quarter, Acciona Windpower’s activities.
Acciona Group’s orders stood at at 1140MW as of 31 December 2015, Nordex said.
Nordex chief executive officer Lars Bondo Krogsgaard said: “We started 2016 backed by a good order book and continue to observe strong demand in our focus markets such as Germany, France and Turkey.
“Looking forward, Acciona Windpower markets, for example, India and Mexico, will also be contributing to our growth.
“In addition, we will be benefiting to a greater extent from the renewal of the production tax credits in the United States.
“This give us a very good basis for further growth and an excellent starting point for the coming year.”
He added: “In addition to transforming the two companies into a single entity, we also want to achieve progress in the quality of our earnings on the basis of improved products.”
Image: Nordex
Nordex, Acciona to wed in April
Companies confirm merger to be completed at start of next month
By EBS