Euro Steel, a Danish steel manufacturer supplying steel products to the European wind market, has agreed to purchase Valmont Industries Inc.'s offshore wind business.

A company known as Valmont SM acquired the offshore wind division in 2014. As part of the company's infrastructure segment, it is categorized as renewable energy and expected to generate around US$100 million in revenue by the fiscal year 2022.

This transaction was expected to be completed this quarter, according to the company announcement.