Siemens Gamesa Takes Over Parts of Senvion

The transaction comprises a major part of the Senvion Group's European onshore service business and all related assets and activities for the provision and sale of services, all Senvion's intellectual property and the onshore rotor blade plant in Vagos, Portugal. As part of the acquisition, some 2,000 employees will transfer from Senvion to Siemens Gamesa. The agreement, which was unanimously approved by Senvion's creditors' committee on October 11, was signed today.

For other parts of Senvion, the wind-down process has begun in order to secure socially acceptable solutions for remaining employees and an orderly liquidation of remaining assets. As announced earlier, some wind turbine continuation projects are being finalised, securing further jobs with some going until the middle of the next year. For other assets, including Indian operations and non-European Service operations, explorative talks with potential investors continue, said the company in a statement.

“This transaction is an important step forward for Siemens Gamesa,” said Markus Tacke, Chief Executive Officer. “Bringing Senvion´s service assets on board will help us to drive growth in a key market segment and add important capacity in Germany and other important European markets, while the blade factory helps us mitigate the risk in the difficult trade environment. We´re bringing good people and good business into the company and that´s a win for all parties.”

Yves Rannou, CEO of Senvion, said: 'We are pleased that we have been able to give our colleagues in a large part of the European Onshore Services business and in our blade production facility in Portugal positive news today, securing close to 60% of all jobs for now. Siemens Gamesa will be a safe new home for them. We are also confident that this is a good solution for our service customers.'