Areva Buying German Wind Turbine Blade Maker

PARIS (AP) -- France's Areva said Wednesday that it will buy the German manufacturer of rotor blades for offshore wind turbines PN Rotor GmbH.

Areva spokesman Jarret Adams said the company is not disclosing how much it intends to pay for the business, a unit of Prokon Nord Energiesysteme GmbH.

The French state-owned nuclear engineering company said the acquisition is "strategic" and noted that the worldwide offshore wind market is expanding rapidly, particularly in Europe.

Areva has ambitions "to become a major player in this rapidly growing sector," Anil Srivastava, CEO of Areva's renewables business unit said in a statement.

The acquisition is expected to close in the next months, Areva said.

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