Weg (WEGE3) announced that it will continue its plan to enter the wind generation market in the United States.
The company will use its high voltage motor and generator factory located in Minneapolis, Minnesota, to manufacture its wind turbine platform.
According to the company, the planned initial investments are not significant and are already included in the approved capital budget.
Weg’s manufacturing unit in Minneapolis has a built area of 45 thousand m² and approximately 200 employees.
It is estimated that the factory will be ready to start supplying the first equipment from 2026. Meanwhile, the company will begin commercial activities to secure sales contracts and develop the local supply chain.
Weg (WEGE3)
The company obtained a net profit of R$1.33 billion in the first quarter of 2024, an increase of 1.6% compared to the same period of the previous year.
In the third quarter of last year, the company made its largest acquisition to date, acquiring assets from the North American company Regal Rexnord for US$400 million.
Despite this, its operating result, measured by Ebitda, reached R$1.77 billion from January to March, representing annual growth of 4.8%.
Weg highlighted that it continues to benefit from favorable conditions in several markets, especially those related to electrification and electrical infrastructure.
In the first quarter, the company’s net revenue reached R$8 billion, showing growth of 4.4% compared to the previous year.
In the foreign market, revenue was R$4.14 billion, an increase of 2.5%, while in Brazil the company recorded revenue of R$3.89 billion, an increase of 6.5%.
The company
Weg is a Brazilian multinational company, one of the largest manufacturers of electrical equipment in the world. Founded in 1961, in the city of Jaraguá do Sul, in Santa Catarina, the company began its activities producing electric motors.
Over the years, it expanded its operations to other segments, such as industrial automation, renewable energy, electronics, industrial paints and varnishes, among others.
