German wind turbine manufacturer Senvion has acquired 100 per cent of the shares of Euros Group in an all-cash transaction.
Euros, located in Berlin and southern Poland, covers all areas of rotor blade design and production as well as master plug and mould design.
The fully functional blade, mould and master plug manufacturing facilities in Żory-Warszowice and Ustron in Poland are part of the transaction.
The acquisition also includes the production site staff.
Jürgen Geissinger, CEO at Senvion, said : “The Euros transaction successfully builds on Senvion’s product innovation and market entry strategy. With the addition of a mould factory and an experienced mould and blade development team, Senvion will be able to reach a shorter time to market for new blades and also be able to produce additional new blades with a reduced time to market. This will enable Senvion to enter new markets with new products more quickly. This strategic move is important to further prepare for our next market entries and also to achieve cost savings and thereby contributing to lower LCoE efforts.”
To date, Senvion has produced its blades in Bremerhaven in Germany and Vagos in Portugal.
With the addition of the Euros production sites in Poland, Senvion will control both the end-to-end production cycle and also expand its blade manufacturing capacity by 25 per cent, the company said.
Michael Wolf, Managing Director of Euros group, states : “Euros and its employees see the acquisition by Senvion with great optimism. The obtained know-how over the past 20 years about innovative tools for rotor blade engineering for on- and offshore areas including mould design and construction as well as blade production can now be applied on a broader scale. Additionally, we aspire to make use of synergies when cooperating with Senvion’s partners to contribute to achieving Senvion’s product strategy.”