Daewoo buys DeWind

Daewoo Shipbuilding and Marine Engineering (DSME) announced it has acquired DeWind for US$ 50 million. DeWind, formerly affiliated with US-based transmission and cable maker Composite Technology, specialises in developing, designing and marketing wind power turbines, Daewoo said in a statement. DSME plans to invest some $70 million in DeWind to develop new turbine models in the near future.