AEG Power Solutions has acquired the outstanding 25% of Skytron Energy after buying a majority stake in 2010. Under the existing management of Martin Sauter, Skytron will stay a separate legal entity with its own brand. The companies said they will jointly take advantage of the strong global growth within the solar market, especially in India. Other business opportunities are developing operations and maintenance business as well as smart-grid solutions.
Skytron provides leading-edge metering, monitoring, and supervision solutions to companies in engineering, procurement and construction as well as to independent power producers.
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“With respect to the objectives we set ourselves regarding our cooperation, we fulfilled and even exceeded our expectations to such an extent that we were able to acquire the whole company, thereby further strengthening our collaboration,” commented Horst Kayser, CEO of AEG PS.
Although financial terms of the transaction were not disclosed, AEG PS’s results for the second quarter, which will to be announced August 11, will reflect the adopted strategy as well as the effects of its 2012 agenda.