GAMESA TO BUY ENDESA RENEWABLES UNIT IN SPAIN.

Advanced Materials & Composites News,  June, 2003  

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June 4, 2003 - Madrid wind energy company Gamesa Eolica announced that it has agreed to buy the Made renewables unit of Endesa, a leading power utility in Spain, for 120 million euros E120M) or about $140.5 million. Gamesa noted in a press statement that it will pay E25M for the company which manufactures wind turbine generators and take on E95M in debt.

The transaction will make Gamesa the world's 3rd largest wind turbine maker, behind #1 Vestas of Denmark and #2 Enercom of Germany. Gamesa added that it has an agreement with Endesa and other companies to supply wind generators ...

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