Vestas Sells Wind Turbine Tower Plant

Thursday, June 14, 2012

Vestas has sold its wind farm turbine tower facility in Varde, Denmark, to China's Titan Wind Energy (Suzhou)

Titan Wind Energy (Suzhou) Co., Ltd. is China’s largest global manufacturer of wind turbine towers and already a long standing supplier to leading turbine manufacturers including Vestas.

The acquisition of the towers factory in Varde will establish Titan Wind Energy’s global manufacturing footprint in Europe, while also maintaining a vast majority of the approximately 120 jobs at the factory in Varde.

The agreement carries a number of advantages for all parties involved:
    •    Titan Wind Energy establishes European production of towers for both onshore and offshore wind turbines
    •    About 120 highly specialised ”greentech” jobs are maintained in Varde, Denmark.
    •    The facility in Varde is ideally positioned to support the further globalisation of Titan Wind Energy’s operations.
    •    The divestment of the towers facility in Varde will reduce Vestas’ fixed costs

Going forward, both Titan Wind Energy and Vestas say they see a huge potential in the continued cooperation.

”We have been cooperating with Vestas for several years, both in China and abroad, and we look forward to further utilising our long-standing partnership within the development and production of technology-leading towers for wind turbines,” says Mr. Yan Junxu, Founder and CEO of Titan Wind Energy (Suzhou) Co., Ltd.

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