Stake acquired in turbine, transmission manufacturer

 

WEG SA has acquired a controlling stake on TGM Indústria e Comércio de Turbinas e Transmissões, (TGM), a Brazilian manufacturer of turbines and transmissions with headquarters in Sertãozinho, State of São Paulo, Brazil. Founded in 1991, TGM is a provider of solutions and equipment for power generator drivers, focusing on thermal and wind renewable energy, from the initial viability studies to the complete plant operation, including systems studies and industrial energy planning. It also provides equipment for mechanical drives, like hoods, fans, shredders, water pumps, mills, sugar cane levelers, turbo chargers, turbo blowers and a specific line for industrial processes. In addition to the 70 000 m2 Sertãozinho headquarters, the TGM also has units in Maceio, São José dos Campos and Nuremberg, Germany, and employs around 1000 people. Net revenue in 2015 was approximately $70-million. The transaction is subject to certain conditions and to the approval from the competition authorities.

Contact Kirsten Larkan, Zest Weg, Tel 011 723-6000, marketing@zestweg.com

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Source: EE plublishers

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