Vestas divests towers factory to Titan Wind Energy
Aarhus, Denmark - In January 2012 Vestas decided to close its tower factory in Varde, Denmark. Vestas has now entered an agreement with Chinese Titan Wind Energy (Suzhou) Co., Ltd., a long term partner and supplier to Vestas, to sell off the Danish facility and thereby maintain most of the jobs for about 120 employees. 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 such as 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.
Ditlev Engel, Vestas President and CEO, is looking forward to further developing the partnership with Titan Wind Energy. “This is an excellent agreement for all parties involved. Vestas welcomes the establishment of Titan Wind Energy in what might be described as the cradle of the global wind industry and we see a huge potential in the ongoing cooperation and co-development with Titan Wind Towers. Meanwhile, I would like to express my gratitude to the employees at the Varde facility, who have been loyal to Vestas during an uncertain period. I am truly happy that many of these skilled employees can now continue working at the factory in Varde for a trusted Vestas-partner.”
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