United States

United States

AMSC acquires The Switch for $265 million

UNITED STATES: American Superconductor (AMSC) has signed an agreement to acquire Finnish wind technology company The Switch for $265 million.

The Switch's generators will go into the SeaTitan turbine
The Switch's generators will go into the SeaTitan turbine
The Switch specialises tin developing permanent magnet generators. AMSC said it plans to use the generators on its 10MW SeaTitan wind turbines.

Additionally, the generators are expected to be used by AMSC customers such as GE, Sinovel and Dongfang Electric.

AMSC also took the opportunity to update its guidance on its 2010 results. It said its revenues would be at the "lower end" of its $430 million to $440 million forecast range.

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