The group said the acquisitions were forecast to boost sales revenues by about US$300M. Contributions from the new investments and assets will be taken as beginning from 1 July this year.
In a statement, the head of andritz hydro power division, Friedrich Papst, said the purchases enabled the group to now offer customers the full product range of hydropower equipment worldwide. He further noted the fast growing demand for renewable energy, including hydropower.
Last month, Andritz announced its agreement with GE to buy the conglomerate's stake in the GEHI venture, headquartered in Brazil. The JV had grown in recent months as GE restructured its hydropower investments and assets, having last year being unable to see a buyer - Pescarmona Group, owner of Impsa - complete on a deal to buy them.
Following the fall-through of the sale, the restructuring saw further changes in the hydro organisation and eventually, in May, GE agreed to sell its Canada-based operations to Andritz.
No details were immediately available on any organisation changes to the acquired assets, or Andritz's group as a whole, as a consequence of the purchases.
