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Europe: Gamesa Builds Electric-Car Unit to Wring Profit From Wind Plants

Gamesa Corp. Tecnologica SA (GAM), the Spanish wind-turbine maker with factories from China to Brazil, plans to grab a share of the market for electric-car charging as use of the low-emission vehicles expands.

The company is using spare capacity at a turbine converter plant in Valencia to produce car-charging stations, Business Development Director David Mesonero said yesterday. Last month, it bought 20 percent of Madrid-based technology company N2S to gain software that monitors power use by electric vehicles.

Chief Executive Officer Jorge Calvet gave up market share in turbine production to preserve profitability since he took charge in 2009, eschewing the price cuts that forced larger rival Vestas Wind Systems A/S (VWS) to slash jobs. Spanish electric- car sales may reach 5,000 in 2012 from less than 200 in 2011 as rental companies and fleet managers add models, Mesonero said.

The N2S deal is part of a plan to broaden the product range in areas where Gamesa’s technology allows it to compete, he said in an interview in Madrid. “Gamesa has industrial capacity we can’t ignore. The idea is to have synergies from the first minute.”


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