News
UTC sells Clipper Windpower to US private equity group
UTC says it "has completed the divestiture of its Clipper Windpower unit to Platinum Equity" after announcing in March that it planned to sell the US-based wind turbine business.
August 8, 2012
by Andrew Lee
in Recharge News
US industrial giant United Technologies Corporation (UTC) has sold Clipper Windpower to a private equity group.
UTC says it "has completed the divestiture of its Clipper Windpower unit to Platinum Equity" after announcing in March that it planned to sell the US-based wind turbine business.
The terms of the agreement were not disclosed by UTC, which bought Clipper in 2010 for a reported $430m.
Since then Clipper and its 2.5MW Liberty turbine have struggled to make an impact in a market dominated by pure-wind rivals such as Vestas, and global industrial groups such as GE and Siemens.
Filed under
:
General
| < prev | next > |
Note: this article may be subject to the Fair Use Notice.