Siemens Gamesa Renewable Energy completed the acquisition of selected European assets of Senvion Group for €200m. The assets included in the transaction are a large part of the European Onshore Service Business of Senvion Group and all associated assets and operations to provide full service, all the Intellectual Property of Senvion, as well as the onshore blade manufacturing facility in Vagos, Portugal. The onshore blade manufacturing plant in Portugal is one of Europe's most competitive manufacturing facilities. The Vagos plant would help to strengthen Siemens Gamesa's industrial value chain and reduce dependency on supplier sourcing from Asia, mitigating volatility amid the uncertainties brought about by current trade issues. “This transaction is an important step forward for Siemens Gamesa. Bringing Senvion's service assets on board will help us to drive growth in a key market segment and add important capacity in Germany and other important European markets, while the blade factory helps us mitigate the risk in the difficult trade environment. We're bringing good people and good business into the company and that's a win for all parties,” Markus Tacke, Siemens Gamesa Renewable Energy Chief Executive Officer.