06/13/2008
USA - Moog acquires 40% stake in German wind-turbine components maker LTi REEnergy
Moog Inc. has bought 40 percent of privately held LTi REEnergy GmbH, which makes wind turbine components, for about $28 million.
Moog said that it plans to buy the remainder of Germany-based LTi over the next 12 months.
The company said that it paid for the 40 percent stake with cash on hand. LTi had revenue of about $85 million in the past 12 months.
Moog said that as a result of the real, it raised its fiscal 2008 income outlook by a penny per share, to $2.72 per share. Moog makes precision control components used in military and industrial applications. The company's shares rose 12 cents to close at $40.32.
Moog said that it plans to buy the remainder of Germany-based LTi over the next 12 months.
The company said that it paid for the 40 percent stake with cash on hand. LTi had revenue of about $85 million in the past 12 months.
Moog said that as a result of the real, it raised its fiscal 2008 income outlook by a penny per share, to $2.72 per share. Moog makes precision control components used in military and industrial applications. The company's shares rose 12 cents to close at $40.32.
- Source:
- Moog Inc.
- Author:
- Edited by Trevor Sievert, Online Editorial Journalist / Author: Moog Inc. Staff
- Email:
- press@windfair.net
- Link:
- www.windfair.net/...
- Keywords:
- wind energy, wind farm, renewable energy, wind power, wind turbine, rotorblade, offshore, onshore
