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Stock Report
Suzlon Energy Updates on acquisition by its subsidiary
Posted On : 2006-10-28 04:00:21( TIMEZONE : IST )
Suzlon Energy Ltd had on October 27, 2006, announced that:
"The Company through its wholly owned subsidiary, AE-Rotor Holding B.V., The Netherlands ("AE-Rotor") has on May 10, 2006, purchased 100% of the share capital of Eve Holding NV, Belgium for a consideration of Euro 431.43 Million. By virtue of the acquisition of Eve Holding by AE-Rotor, the Company has 100% ownership of Hansen Transmissions International NV, Belgium along with its subsidiaries, which are engaged in the business of design, development, manufacturing and supply of industrial and wind gear boxes and is the second largest wind energy gearbox manufacturer in the world having approximately 33% global market share. The above consolidated results for the quarter ended September 30, 2006, interalia includes the results of Eve Holding NV, Belgium. Accordingly the sales and gross margins for the consolidated results during the quarter ended September 30, 2006 are to that extent not comparable with the consolidated results of prior periods presented."
Suzlon Energy Ltd has now announced that:
"The Company through its wholly owned subsidiary, AE-Rotor Holding B.V., The Netherlands ("AE-Rotor") has on May 09, 2006, purchased 100% of the share capital of Eve Holding NV, Belgium for a consideration of Euro 431.43 Million. By virtue of the acquisition of Eve Holding by AE-Rotor, the Company has 100% ownership of Hansen Transmissions International NV, Belgium along with its subsidiaries, which are engaged in the business of design, development, manufacturing and supply of industrial and wind gear boxes and is the second largest wind energy gearbox manufacturer in the world having approximately 33% global market share. The above consolidated results for the quarter ended September 30, 2006, interalia includes the results of Eve Holding NV, Belgium. Accordingly the sales and gross margins for the consolidated results during the quarter ended September 30, 2006 are to that extent not comparable with the consolidated results of prior periods presented."
