In August last year, the A.P. Møller Holding-owned company KK Wind Solutions and Vestas revealed that they had agreed on a deal whereby KK Wind Solutions would take over Vestas' converter and controls business for an undisclosed price. However, the deal was subject to approvals from relevant authorities. Those approvals have now been received, and the deal is now being implemented, Vestas said in a press release.
The deal means, among other things, that three converter and control panel factories located in Hammel (DK), Oragadam (IN) and Tianjin (CN) will change hands. In total, approximately 600 employees will change employers from Vestas to KK Wind.
However, the employees will continue to deliver to Vestas turbines. As part of the partnership between Vestas and KK, KK will exclusively deliver converters and control panels to Vestas, and the partnership will be further developed with joint development of all future Vestas converters.
In connection with the transaction, KK Wind Solutions and Vestas have thus agreed to also work together to develop converters in an engineering team at Vestas that is fully dedicated to the partnership.
- I am very excited about the next chapter in our partnership with KK Wind Solutions, and I look forward to growing and maturing the wind energy supply chain together. I would also like to express my deepest appreciation to our committed and talented colleagues who will join KK. You have done an excellent job, and I know you will continue to do so together with your new colleagues at KK,” says Tommy Rahbek Nielsen, Group President and COO at Vestas.
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