ZF Wind Power Antwerpen
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|Industry||Wind power industry|
|Jan Willem Ruinemans (CEO)|
|Revenue||€410 million (2012)|
Number of employees
The company was founded in 1923 in Antwerp under the name La Mécanique Générale (LMG). The company soon focused on the manufacturing of specialized transmission units, under engineer David Hansen. In 1939 the company moved to Edegem, to ensure there was sufficient room for future expansions. In 1950, Hansen founded the subsidiary Machinery & Gear Hansen (MGH). LMG and MGG merged in 1966, and in 1972 it was renamed to Hansen Transmissions International (HTI). From 1979, the company increasingly focused on the supply of gearboxes to the growing wind energy generation sector.
After a series of takeovers in the period after 1966, Hansen Transmissions was acquired on March 17, 2006 by Suzlon Energy through its subsidiary, AE-Rotor Holding BV, for €465 million in cash from Allianz Capital Partners and Apax Partners. The transaction was the second largest foreign acquisition by an Indian company to date. The rationale of the acquisition was to secure access to the crucial supply of gearboxes for the wind turbine manufacturer. Hansen hoped to benefit from the regional knowledge and expertise of Suzlon Energy in its expansions in India.
Yet Suzlon subsequently struggled with a high debt burden. In December 2007, Hansen transmission was listed on the London Stock exchange. Suzlon continued to sell pieces of Hansen Transmissions in the years that followed, most notably in November 2009, selling a 35.22% share to repay an outstanding acquisition loan facility. The remaining share of Suzlon in Hansen was 26.1%, making it the largest shareholder.
ZF Wind Power Antwerpen currently operates four manufacturing plants with an annual output capacity of approximately 10,000 MW. The company manufactures in Belgium, India, the US and China.
- Company Website, accessed on December 26th 2009.
- Suzlon Energy acquires Hansen Transmissions, Windtech International, accessed on December 26th, 2009.
- Allianz Capital, Apax sell Hansen Transmissions to Suzlon for 465 mln eur, Forbes, March 22nd 2006, accessed on December 26th 2009.
- "Annual Report 2009" (PDF). Hansen Transmissions. Retrieved 2011-09-16.
- Suzlon to sell final slice of Hansen, Financial Times, December 11, 2009, accessed on December 26th 2009.
- Suzlon Energy: Inching Ahead, Business Standard, December 22nd 2009, accessed on December 26th 2009.
- EU Clears Germany's ZF To Buy Hansen Transmissions International NV-DJ Reuters, 30 September 2011
- "Hansen Transmissions International Changes Name to ZF Wind Power Antwerpen (Belgium)". offshorewind.biz. 2011-12-15. Retrieved 2013-05-02.