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Korea Exim News

Korea Eximbank Provides USD 50 Million for Green Growth M&A Funding

Date 2010.01.05 View 30992
□ Korea Eximbank (, Chairman Dongsoo Kim) announced on September 10th that the Bank will provide DaewooSME (DSME) with USD 50 million in support for acquisition of DeWind, an American wind power turbine manufacturer.

□ DeWind was established in 1995 and have since distributed 710 wind energy turbines to 15 different countries worldwide. Their main model, the 2MW turbine, was approved by the German Wind Power Certificate Authority DEWI-OCC in 2008.

□ DSME is looking forward to taking over Dewind with the hopes that the core technology for wind power turbine manufacturing will serve as a bridgehead to the North American wind power market and promote offshore wind energy projects.

□ According to a representative of Korea Eximbank, "After the global financial crisis, we have seen a decrease in enterprise values worldwide. This makes it a perfect time for M&A companies with advanced technology to seize the market. We expect to see a large number of M&As for upgrades in technology." He added, "Korea Eximbank will actively support M&A transactions in the green growth sector to advance the green growth industry.”