Portuguese Offshore Wind Plant Attracts Multi-Million Investment

Portugal’s ASM Industries has signed a EUR 4.5 million investment agreement with an undisclosed institutional investor for ASM Offshore – the company’s offshore wind foundations and towers manufacturing unit.

The investment is equivalent to the acquisition of a 15% stake in the ASM Offshore Industrial Unit, the company said.

“This is an absolutely crucial step for ASM Industries and ASM Offshore, our industrial unit dedicated to the manufacture of wind towers and offshore foundations,” said Adelino Costa Matos, CEO of ASM Industries.

”This financial participation allows us to maintain the accelerated pace of sustained growth and consolidate our presence in the offshore sector, which already stands out as the largest player in Portugal, but aiming to be one of the largest in Europe.”

The ASM Offshore Industrial Unit is located in the Port of Aveiro and is scheduled to start operating in March 2019.

The facility, expected to create 150 jobs, covers an area of about 72 thousand square meters and is situated in the Logistics and Industrial Activities Zone of the Port of Aveiro (ZALI).

The project represents an investment of EUR 29 million and is co-financed by Compete 2020, Portugal 2020, and the European regional development fund.

Photo: A rendering of the ASM Offshore Wind Unit in Aveiro. Source: ASM Industries