| The largest overseas acquisition so far has been Dr Reddy's takeover of Betapharm last month, for ¤480 million. |
| The acquisition of Hansen through holding firm EVE, with an enterprise value of ¤465 million, is Suzlon's second overseas foray this week. It had announced yesterday a $60-million investment in a wind turbine-manufacturing unit in China. |
| The company has also invested a similar amount in a US manufacturing plant having the same capacity. Both the plants were expected to be operational by July end, Suzlon Chairman Tulsi Tanti said. |
| The acquisition also gives Suzlon control over the world's second largest WTG manufacturer, Hansen Transmissions, which controls 33 per cent of the WTG market globally. Hansen has capacity to roll out 3,600 Mw of wind turbine gearboxes and 3,000 industrial gear boxes a year. |
| Suzlon's shares, which hit a new high of Rs 1,342 this week, went up 0.50 per cent and closed at Rs 1,325 on the Bombay Stock Exchange. On the NSE, the stock went up .073 per cent and closed at Rs 1,299. |
| Tanti said, "This is a strategic move for us to overcome the supply chain constraints in gearboxes which are a critical component of this industry. With this acquisition, we will be able to integrate the Asian and European markets and plan our growth accordingly. Today there is no spare capacity in the world for gearboxes and this we see as a major constraint to our growth." |
| The acquisition had been financed through a syndicated loan from Barclay's Bank UK and ICICI Bank, Tanti said. |
| It also takes Suzlon right to the doorsteps of Denmark-based Vestas, the world leader in wind power, with a 30 per cent market share. |
| Tanti said Hansen had already laid out infrastructure to add another 700 Mw of wind turbine gearboxes at its two manufacturing units in Belgium. |
| Suzlon has a major share of India's growing wind power industry and has put up around 850 Mw of the existing 1500 Mw of wind power in the country. |
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