ZF Friedrichshafen is to buy Belgium-based Hansen Transmissions, which makes gearboxes for wind turbines, for US$725.5m to consolidate its position in the market for wind energy.
ZF CEO Hans-Georg Härter said: “Hansen’s wind gearbox activities represents a natural extension of our strategic decision to enter the growing field of wind energy.”
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The supplier’s products include vehicle transmissions, steering systems, chassis components and complete axle systems. The Zeppelin Foundation, administered by the city of Friedrichshafen, owns 93.8% of the company.
