Weg Announces Creation Of Joint Venture With M. Torres Olvega Industrial (Mtoi) To Manufacture Wind Energy Generators

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30th November 2011

Source: WEG ELECTRIC MOTORS (U.K.) LTD.

Weg Announces Creation Of Joint Venture With M. Torres Olvega Industrial (Mtoi) To Manufacture Wind Energy Generators

WEG S.A. has announced the signing of a memorandum of understanding and the concluding of a technology transfer agreement with M. Torres Olvega Industrial (MTOI) of Spain. The memorandum of understanding and the technology transfer agreement will result in the creation of a joint venture between WEG and MTOI, with equal participation, for manufacturing, assembling, installing and marketing of wind turbine generators, as well as operation and maintenance services.

With this Joint Venture WEG will be able to start to meet the growing demand of the Brazilian market, participating in the wind power generation business supplying wind turbine generators with proven technology and high local content.

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