Chicago Trib:

Danish wind turbine manufacturer Vestas has signed a 10-year deal with Peoria-based Caterpillar under which the American company will recondition turbine parts to boost Vestas’ servicing capabilities.

A Vestas official declined to say what the deal was worth, but the company said the arrangement would help it provide a parts and repairs service, which is expected to grow into a 700 million-euro ($963 million) business by the end of 2011.

In 2010 the service business was worth 623 million euros, and it has been increasing rapidly, Phil Jones, head of Vestas’ spare parts and repair operations said.

“We do some remanufacturing work, but Caterpillar has a global network and deep expertise in this area with good facilities so it makes good sense to partner with them,” he told Reuters.

Remanufacturing means returning end-of-life components to like-new condition, Vestas said.

The global deal with Caterpillar covers the remanufacturing of minor components and sub-component repairs in support of Vestas’ internal repair sites, Vestas said in a statement.