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Suzlon purchases shares of Eve Holding NV

Written by: Staff
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New Delhi, Oct 28: Suzlon Energy Ltd said the company through its wholly owned subsidiary, AE-Rotor Holding B V, The Netherlands (AE-Rotor) has on May 10, 2006, purchased 100 per cent of the share capital of Eve Holding NV, Belgium for a consideration of Euro 431.43 million.

The company yesterday said by virtue of the acquisition of Eve Holding by AE-Rotor, the company has 100 per cent ownership of Hansen Transmissions International NV, Belgium along with its subsidiaries, which are engaged in the business of design, development, manufacturing and supply of industrial and wind gear boxes.

It is the second largest wind energy gearbox manufacturer in the world having about 33 per cent global market share.

The above consolidated results for the quarter ended September 30, 2006, interalia includes the results of Eve Holding NV, Belgium.

Accordingly the sales and gross margins for the consolidated results during the quarter ended September 30, 2006 are to that extent not comparable with the consolidated results of prior periods presented.

Suzlon specialises in providing total solutions in Wind Power Generation with cohesive integration of consultancy, design, manufacturing, installation, operation and maintenance services.

UNI

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