Belgium

Belgium

Hansen to sell off industrial arm

BELGIUM: Hansen Transmissions is planning to concentrate on its wind energy business following its acceptance of a €75million offer to buy its industrial gearbox division, Hansen Industrial Transmissions (HIT).

Sumitomo Heavy Industries is looking to acquire HIT, which accounts for 16% of Hansen’s revenue. The deal has been accepted by the Hansen board and is now subject to consultative procedures.

In a statement, Hansen said it believed there were "different dynamics" between the wind and industrial divisions.

It added: "As a result of the transaction, Hansen Transmissions will focus its future business strategy on wind energy. The group’s management and board are convinced that this is the right strategic path that will lead to a stronger and more focused position in a sector with substantial long-term opportunities."

In September, Hansen announced its sales in the six months to June 30 fell by more than a quarter year on year.  

The company's revenue fell from €295million in H1 2009 to €217million in H1 2010, a 26.4% decline. The average loss of revenue across the wind power industry was 23.9%.

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