Spanish engineering company Gamesa will join forces with German rival Siemens, merging into one of the largest players in wind-power equipment and energy production in the world. The merger will allow Siemens to greatly overtake it’s main rival in the wind-turbine manufacturing market, Danish company Vestas.
The merger operation between the companies will produce a new major player, with an estimated 15% of global market share and adding Siemens’ 5.6 GW production to Gamesa’s 3 GW.
The Spanish company consulted several investment banks to analyze Siemens’ proposal. The agreement is expected to take advantage of teach company’s strengths, with a focus on strengthening R&D operations and in exploiting Gamesa’s strong presence in Latin America.
Full content: Forbes
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