Precision control components manufacturer Moog Inc. has acquired a 60-percent stake in LTi REEnergy GmbH, further establishing itself in the global wind energy market.
Moog paid nearly $31 million in cash and debt to acquire a majority stake in the Germany company, which makes motion control and drive systems used on wind turbines. Last June, Moog paid $28 million to purchase a 40 percent stake in LTi.
The deal includes Moog acquiring several manufacturing and testing facilities, one in Unna, Germany, and the other in Shanghai, China.
Moog in January paid $16 million to buy a 70 percent stake in Insensys Ltd., a British company that makes components used in wind turbines. That deal expanded the line of products that Moog makes for wind turbines, mainly equipment that stops and shuts down the turbines and also regulates their power output.