Hansen Transmissions
Encyclopedia
Hansen Transmissions International NV is an established global wind turbine gearbox and industrial gearbox designer, manufacturer and supplier, with a leading position (by MW supplied) in the wind turbine gearbox market. In September 2011 it was acquired by ZF Friedrichshafen
AG.
After a series of takeovers in the period after 1966, Hansen Transmissions was acquired on March 17th 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 is 26.1%, making it the largest shareholder.
In September 2011 it was acquired by ZF Friedrichshafen
AG.
in Belgium
. The company expanded its manufacturing capabilities in 2008 to up to 6,000MW at a cost of approximately €180 million, paid for with money raised during the companies' IPO
in December 2007.
Hansen has recently leased a site in a Special Economic Zone
in Coimbatore
, India
, and has commenced a €270 million project to build an integrated manufacturing plant for the manufacture of wind turbine gearboxes which is expected to reach full capacity in April 2011.
Hansen is also planning the construction of a €200 million integrated manufacturing plant in China
for the manufacture of wind turbine gearboxes which is expected to be completed in April 2011. As with the construction of its Indian facility, Hansen expects to leverage the experience gained during the construction and expansion of its Lommel plant.
ZF Friedrichshafen
ZF Friedrichshafen AG, also known as ZF Group, and commonly abbreviated to ZF, is a German public company headquartered in Friedrichshafen, in the south-west German region of Baden-Württemberg....
AG.
History
Hansen Transmission's history goes back to 1923, when the company was founded in Antwerp under the name La Mécanique Générale (LMG). The company soon focused on the manufacturing of specialized transmission units, stimulated by the young engineer David Hansen. In 1939 the company moved to its current location in Edegem, to ensure there was sufficient room for future expansions. In 1950, Hansen founded the subsidiary Machinery & Gear Hansen (MGH). A merger of LMG and MGG in 1966 formed today's company, since 1972 under its current name Hansen Transmissions International (HTI). Since 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 17th 2006 by Suzlon Energy
Suzlon Energy
Suzlon Energy is a global wind power company based in India. In terms of market share, the company is the fifth largest wind turbine manufacturer in Asia...
through its subsidiary, AE-Rotor Holding BV, for € 465 million in cash from Allianz Capital Partners
Allianz
SE is a global financial services company headquartered in Munich, Germany. Its core business and focus is insurance. As of 2010, it was the world's 12th-largest financial services group and 23rd-largest company according to a composite measure by Forbes magazine.Its Allianz Global Investors...
and Apax Partners
Apax Partners
Apax Partners LLP is a global private equity and venture capital firm, headquartered in London. The company also operates out of eight other offices in New York, Hong Kong, Mumbai, Tel-Aviv, Madrid, Stockholm, Milan and Munich. The firm, including its various predecessors, have raised...
. 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
Suzlon Energy
Suzlon Energy is a global wind power company based in India. In terms of market share, the company is the fifth largest wind turbine manufacturer in Asia...
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 is 26.1%, making it the largest shareholder.
In September 2011 it was acquired by ZF Friedrichshafen
ZF Friedrichshafen
ZF Friedrichshafen AG, also known as ZF Group, and commonly abbreviated to ZF, is a German public company headquartered in Friedrichshafen, in the south-west German region of Baden-Württemberg....
AG.
Manufacturing locations
Hansen's main manufacturing facility is located in LommelLommel
Lommel is a municipality located in the Belgian province of Limburg. On January 1, 2006 Lommel had a total population of 31,898. The total area is 102.37 km² which gives a population density of 312 inhabitants per km².-Lutlommel:...
in Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
. The company expanded its manufacturing capabilities in 2008 to up to 6,000MW at a cost of approximately €180 million, paid for with money raised during the companies' IPO
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
in December 2007.
Hansen has recently leased a site in a Special Economic Zone
Special Economic Zone
A Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
in Coimbatore
Coimbatore
Coimbatore , also known as Kovai , is the second largest city in the Indian state of Tamil Nadu. It is a major commercial centre in Tamil Nadu and is known as the "Manchester of South India"....
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, and has commenced a €270 million project to build an integrated manufacturing plant for the manufacture of wind turbine gearboxes which is expected to reach full capacity in April 2011.
Hansen is also planning the construction of a €200 million integrated manufacturing plant in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
for the manufacture of wind turbine gearboxes which is expected to be completed in April 2011. As with the construction of its Indian facility, Hansen expects to leverage the experience gained during the construction and expansion of its Lommel plant.
See also
- Wind powerWind powerWind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity, windmills for mechanical power, windpumps for water pumping or drainage, or sails to propel ships....
- Renewable energy industry
- Transmission (mechanics)Transmission (mechanics)A machine consists of a power source and a power transmission system, which provides controlled application of the power. Merriam-Webster defines transmission as: an assembly of parts including the speed-changing gears and the propeller shaft by which the power is transmitted from an engine to a...
- Suzlon EnergySuzlon EnergySuzlon Energy is a global wind power company based in India. In terms of market share, the company is the fifth largest wind turbine manufacturer in Asia...