Omaha Nebraska US headquartered leading provider of vital infrastructure and advances agricultural productivity Valmont Industries, has entered into a definitive agreement to sell its offshore wind business to Denmark-based supplier of steel products to the European wind market Euro Steel. The offshore wind business, known as Valmont SM, was acquired in 2014. It is reported in the Renewable Energy product line in the Company’s Infrastructure segment and expected to generate approximately USD 100 million of revenue in fiscal 2022. The Company plans to utilize the net cash proceeds from this transaction toward repayment of short-term borrowings.Founded in 1988, Euro Steel Denmark supplies steel plates, beams, and other products to turbine manufacturers in European wind markets. For over 75 years, Valmont has been a global leader in creating vital infrastructure and advancing agricultural productivity.
Omaha Nebraska US headquartered leading provider of vital infrastructure and advances agricultural productivity Valmont Industries, has entered into a definitive agreement to sell its offshore wind business to Denmark-based supplier of steel products to the European wind market Euro Steel. The offshore wind business, known as Valmont SM, was acquired in 2014. It is reported in the Renewable Energy product line in the Company’s Infrastructure segment and expected to generate approximately USD 100 million of revenue in fiscal 2022. The Company plans to utilize the net cash proceeds from this transaction toward repayment of short-term borrowings.Founded in 1988, Euro Steel Denmark supplies steel plates, beams, and other products to turbine manufacturers in European wind markets. For over 75 years, Valmont has been a global leader in creating vital infrastructure and advancing agricultural productivity.
