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Another Moog acquisition taking stake in Britain's Insensys
1 April 2009
America's Moog Inc, a maker of precision controls for industrial machinery, has further expanded into the wind sector with a second acquisition. It has taken a 70% stake in British firm Insensys, which provides pitch control systems and blade and rotor monitoring systems for wind turbines. The purchase comes on the heels of Moog taking 40% stake in Germany's LTi REEnergy, a provider of electric pitch control motors and systems. Together with its own equipment, Moog's Sherif El Henaoui says the investments give the company a full suite of components to offer the wind industry. Moog provides LTi and Insensys with a global manufacturing and distribution base. From Insensys, Toby King says Moog is large enough to engage in the merger and acquisition activity that was beyond the scope of a smaller company. "So we will keep our eyes open for other synergistic businesses and technologies," he says. Insensys has orders for $15 million extending to 2011 with several of the wind industry's largest turbine producers, says King. "Three of the world's top four manufacturers have implemented individual pitch control [of blades], and we regard ourselves as the pre-eminent supplier of sensors for this application," says King. He feels the global financial downturn may present unexpected opportunity as turbine manufacturers seek to achieve an optimum balance of power rating, cost and reliability in their products. "We think this will actually help us," says King.
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