The Cavan-based Galetech Group has announced it has acquired a new firm, with plans to invest 5 million euro in a Renewable Components Hub.
New company 'Optigear' was formed following the group's acquisition of the Precision Gear Company in Northern Ireland.
Following the deal, Optigear will continue to serve clients in the European and UK wind, rail, marine, and mining sectors.
The new service, when combined with parts exchange, will result in reduced down time for windfarm operators, ensuring that renewable energy production is stable and efficient.
According to Darren Sherry, CEO of the Galetech Group, the acquisition of this business will help customers "extend the lives" of their critical components - keeping wind turbines online for longer than would otherwise be possible.
