Flender will expand its market position in mechanical transmission systems for wind turbines by incorporating WG's electro-technical expertise in generators, while WG will benefit, among other things, from Flender's position in the wind energy sector.
The two business units, part of the Siemens portfolio companies, employ 8,500 people and generate pro-forma revenues of approximately €2 billion.
"By integrating WG into Flender GmbH, we will strengthen our turbine components business, thus creating a solid foundation for Flender's IPO," said Horst Kayser, Head of Business Activities for the Siemens portfolio companies. "With its planned IPO in 2021, we intend to give Flender the independence and flexibility it needs to further solidify its market leadership in advanced technology," he added.

"WG and Flender's business activities are a perfect fit. Flender is a leading supplier of mechanical transmission solutions, such as gear units and couplings, while WG has extensive technical expertise in electric drive components, such as generators, for the wind industry. We are already working together on a hybrid powertrain, which will unlock new growth potential in the wind energy sector. As a result, we are ideally positioned to meet the growing demand from wind turbine manufacturers with our system offerings and to provide customers with even greater added value," said Andreas Evertz, CEO of Flender GmbH.