Business Daily from THE HINDU group of publications
Friday, Sep 01, 2006

Cross Currency

Group Sites

Corporate - Mergers & Acquisitions
Web Extras - Non-conventional Energy
Sterling Infotech buys 40 pc in Finland wind turbine co

Our Bureau

Chennai , Aug. 31

Sterling Infotech Group has picked up a 40-per-cent stake in Winwind Oy, a Finland-based wind turbine manufacturer.

According to a press release from Sterling Infotech, the 20-million deal (Rs 119.50 crore) through its Mauritius subsidiary Avis Ventures Ltd makes Sterling Infotech Group the largest shareholder in Winwind.

This acquisition marks the company's entry into renewable energy and hybrid fuels, areas in which it expects to make more investments.

Winwind Oy supplies one- and three-megawatt wind turbines based on low-speed technology. Sterling plans to exploit the rapidly growing markets in Europe, South America and Asia through this acquisition.

The release quoting Mr Matti Vuoria, Chairman, Winwind, said that Sterling Infotech Group's international network will accelerate Winwind's growth. The presence of the Indian investor enhances its credibility in the international marketplace.

The other main shareholders in Winwind are Proventia Group Oy, Head Invest Oy, Powest Oy, Finnish Industry Investment Ltd and Varma Mutual Pension Insurance Company, a large private investor pension fund of which Mr Vuoria is the CEO and President.

Winwind promoted in 2000 has assembly plants in Ii and Loviisa, Finland. It has subsidiaries in Portugal, Estonia and China and plans to enter into new markets in India and Brazil.

Sterling Infotech Group has interests in telecom services, food and beverages business. It is pursuing investment opportunities in renewable energy, including fuel ethanol, real estate, engineering and construction and e-governance.

More Stories on : Mergers & Acquisitions | Non-conventional Energy

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
The `other' Ambani

Alstom bags Laos order
Reality check on awards
Tata Motors unit wins CII-Exim Bank award
Ministry may improve selection criteria for transfer pricing audits
Shree Renuka pact for Munoli project
Oil bonds not to get SLR status, says Chidambaram
Banks reject SPIC proposals for debt revamp
Rayalaseema Hi-Strength revamps capital
P.K. Ruia acquires Monotona Tyres
Sterling Infotech buys 40 pc in Finland wind turbine co
Kemwell completes Pfizer's Swedish plant acquisition
Praj plans to acquire US engineering co
NPIL lab chain plans Rs 150-cr expansion
Gulf Gate to set up shop in NY, London
Wockhardt antibiotic gets USFDA nod
PVR Projects plans foray into hotels, realty
Tata Coffee to focus on value-added timber products
Kerala Govt to form core panel with banks to revive PSUs
Coca-Cola plans to invest $120 m in Indian arm
Agening workforce — Healthcare, retirement costs to weigh heavily on cos: Survey

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line