GRI Renewable Industries, a world leader in the manufacture of components for the wind power sector (GRI), acquired 45% of Windtechnic Engineering, an engineering, manufacturing, assembly and technical support company for hybrid and concrete towers. NORGESTION has acted as financial and legal advisor to Windtechnic Engineering.
With this purchase GRI expands its product portfolio and makes a strong entry into a niche market that accounts for approximately 15% of the world market, especially relevant in terms of the design and assembly of hybrid towers with heights of over 140 metres.
Windtechnic has carried out important projects in markets such as Chile, Argentina, South Africa, Poland, China, Brazil and Spain, among others, and currently has important contracts for Europe and America.
GRI’s CEO, Antonio Barbosa, said: ‘With our entry into Windtechnic, we will expand GRI’s offerings to our clients and boost the company’s penetration into strategic markets such as Germany’.
Alvaro Landeira, CEO of Windtechnic, commented that ‘The entry of a partner like GRI into the shareholding of Windtechnic will allow us to take a very important quantitative leap, reinforcing our position in the market and expanding the supply capacity of our products to new regions, all while maintaining our company philosophy’.
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