BayWa acquires wind energy specialist and combines its service business

BayWa acquires wind energy specialist and combines its service business | Bild: ©

DGAP-News: BayWa AG / Key word(s): Acquisition BayWa acquires wind energy specialist and combines its service business

15.12.2011 / 10:08

BayWa acquires wind energy specialist and combines its service business

Munich, 15 December 2011 - Munich-based BayWa AG has acquired a 100 interest in L&L Rotorservice GmbH (Basdahl, Germany), a company specialising in the repair and maintenance of rotor blades, through its subsidiary BayWa r.e. The purchase price comes to around EUR 1 million. L&L Rotorservice GmbH was previously owned by the two managing directors Reinhard Lührs and Horst Liese, each of whom held a 50 percent stake. Reinhard Lührs remains as managing director while Horst Liese is leaving the company. Over the course of this transaction, structures will be set in place to combine the service activities in the field of renewable energies under BayWa r.e.

'This acquisition is an excellent opportunity for us to expand our portfolio of services in the wind power business. We will consistently go down the path of organic growth already embarked on by L&L Rotorservice', explained Klaus Josef Lutz, Chief Executive Officer of BayWa AG.

'L&L Rotorservice is excellently positioned in Germany and has also started to expand its network of services abroad', stated Roland Schuler, BayWa AG's Management Board member responsible for energy. He added that the company is established as an independent supplier which will enable BayWa to participate in this growing market. L&L Rotorservice has a workforce of 85 employees and is set to generate revenues of approximately EUR 5 million in 2011. The company is a leading provider in the sub-segment for services of this kind.

L&L Rotorservice provides services for wind farms ranging from repair and maintenance through to logistics and transport. The company also operates in the high-potential market of optimisation and repowering where it develops innovative solutions for enhancing the performance of wind energy plants. L&L Rotorservice provides support for over 2,000 megawatts (MW) worth of wind power output mainly in Germany.

Contact: Marion Danneboom, BayWa AG, Head of PR/Corporate Communication, tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98, e-mail: marion.danneboom@baywa.de

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15.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: marion.danneboom@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart


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149877 15.12.2011