STX Heavy Industries, a unit of South Korea’s STX Corporation, announced last week that it will take over control of Netherlands’ wind turbine manufacture Harakosan Europe B.V.
Harakosan Europe owns technologies and licenses to three separate wind turbine designs and runs a research and development (R&D) center in the Netherlands.
STX Heavy reportedly has its sights set on becoming South Korea’s top wind turbine manufacturer and will invest about 24 billion won (or roughly $19.2 million) in the equity acquisition.
Additionally STX Heavy said it plans to invest more than 100 billion won into plant construction and R&D.
STX Heavy already has developed its own systems for installing and maintaining wind turbines.
“We’ll achieve revenues of 1.5 trillion won in the wind turbine sector by 2015 and develop into one of global Top 10 wind turbine companies through the development of offshore wind turbine complexes, machine exports, and advancement into marine wind businesses," Yeoh, Hyuk-jong, the CEO of STX Heavy Industries said, according to a MGK Buisness report.
Loading...