Pioneer Power to enter wind turbine market

Most of the assets of AAER Inc., a Quebec-based company that once aspired to establish itself as a wind turbine manufacturer but ended up in bankruptcy court, are being sold to Pioneer Power Solutions Inc. for $450,000.

Pioneer will acquire most of AAER’s inventory, capital assets, intangible assets and intellectual property the U.S.-based company announced Thursday from its headquarters in Fort Lee, N.J.