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Senvion, Siemens Gamesa to announce deal over asset sale imminently

Troubled German turbine maker Senvion SA will announce the sale of key parts of its business to Siemens Gamesa Renewable Energy SA in the coming days, website Recharge reported Oct. 9, citing an internal email from Senvion CEO Yves Rannou.

Rannou said the company is also looking for a "solution" for the rest of the business, Recharge reported. Senvion filed for insolvency in April and in September announced it was in advanced talks with Siemens Gamesa over the potential sale of some of its European assets.

Strengthening competition in the maturing onshore wind market is driving consolidation. The week of Oct. 7, Spain's Acciona SA increased its stake in German turbine manufacturer Nordex SE, a move that could force it to launch a public takeover of the company.

But closures and layoffs also abound in the sector: Siemens Gamesa, along with Danish turbine giant Vestas Wind Systems A/S, between them announced over 1,000 redundancies in Denmark and Germany in September, and Senvion also said it planned to lay off staff this year.

Industry group WindEurope attributes the job losses to legislative uncertainty as well as public opposition in parts of Europe. "This uncertainty weighs heavily on the supply chain," it said in its latest industry outlook.

"Jobs are at stake here," said WindEurope CEO Giles Dickson. "The wind industry employs over 300,000 people in Europe but has lost 35,000 jobs in Germany alone over the last four years in large part because of public policy issues."