Hansen Transmissions International NV. has announced that it has received an offer for its industrial gearbox division (Hansen Industrial Transmissions (HIT) from Sumitomo Heavy Industries (Sumitomo HI).
The management team and board of Hansen have evaluated the Proposed Transaction in detail and believe it presents a great opportunity for both its industrial and wind gearbox businesses. Hansen Transmissions has recognized for some time the different market dynamics between the wind and industrial gearbox businesses, which accounted for 84% and 16% respectively of its group revenue in FY 2010. As a result of the Proposed Transaction, Hansen Transmissions will focus its future business strategy on wind energy.
The management team and board of Hansen have evaluated the Proposed Transaction in detail and believe it presents a great opportunity for both its industrial and wind gearbox businesses. Hansen Transmissions has recognized for some time the different market dynamics between the wind and industrial gearbox businesses, which accounted for 84% and 16% respectively of its group revenue in FY 2010. As a result of the Proposed Transaction, Hansen Transmissions will focus its future business strategy on wind energy.
