Global industrial engineering group Clyde Blowers has signed an agreement to acquire Moventas Wind Ltd and Moventas Santasalo Ltd. Following the acquisition of the Moventas companies, Clyde Blowers, with its existing David Brown Gear Systems business, will be one of the largest gear manufacturing groups in the world.  

- We are very pleased to get an excellent owner for us with an industrial background - Clyde Blowers offers us stability and further development of our business. This also significantly strengthens our position and opportunities on our main markets, comments President & CEO of Moventas companies Jukka Jäämaa . 

Clyde Blowers is an industrial engineering group headquartered in the UK. Its interests cover a wide range of industrial engineering activities in the power (including renewable energy, conventional and nuclear), oil & gas, mining and minerals, rail and other industrial markets. Clyde Blowers carries out activities across the world, with particular focus on growing its activities in fast developing regions such as India, China and South America. Clyde Blowers knows the global gearing business very well, as one of the group companies is David Brown Gear Systems, which manufactures industrial gear and drive systems for various industries.  

- Moventas is a very high quality engineering business with a fantastic product range, a strong dedicated management team with deep engineering capability and excellent customer relationships.  Moventas operates some of the most advanced, state of the art manufacturing and test facilities in the world and has an extensive product range.  It is a leading independent player in the global Wind turbine gearbox and drive solutions market with products extending across a wide range of wind turbines. Additionally they have a world class capability and exceptionally strong product offering for a wide range of industrial markets and are well positioned for future growth.  We are very excited about the future prospects for Moventas, says Chairman and Chief Executive of Clyde Blowers, Jim McColl . 

Based on the sales and purchase agreement signed on 14 November, the objective is to close the acquisition before the year-end.