The acquisition will help Titan Wind Energy to expand its market position with the addition of a new line of business
Image: Titan Wind Energy has acquired Ambau facility in Cuxhaven in Germany. Photo: courtesy of www_slon_pics/Pixabay
Chinese wind tower company Titan Wind Energy has acquired Ambau facility in Cuxhaven in Germany to mark its entry into the offshore wind turbine foundations market.
The takeover of the facility will take place through the newly recognised Titan Wind Energy (Germany), which will be a wholly-owned subsidiary to Titan Wind Energy (Europe).
Titan Wind Energy (Europe) President Michael Buus Nielsen said: “Ambau has been playing an important role of supplying foundations for offshore wind turbines in the North Sea area and has an ideal location for the future demand within the offshore wind industry.
“With the experience from the facility in Cuxhaven and the many years of experience from tower production in Denmark, we will be able to utilize the synergies and knowhow to create a strong setup for the future.”
Titan Wind Energy’s expansion in European market
German group Ambau in coastal town of Cuxhaven has largely provided offshore products to the main companies in the market and Titan will continue to secure the future assistance from key customers in the years to come demanding and expanding offshore market.
The acquisition of Ambau facilities will enable Titan to venture into the offshore wind manufacturing in the European market, to improve its core competitiveness in the industry.
The official takeover will happen in October this year, when the German firm in Cuxhaven fulfills all the customer obligations.
The firm stated: “Titan wind Energy (Europe) A/S will however immediately initiate a process of building up a world class business in Cuxhaven and thereby continue its determination to be a trustworthy solution provider, dedicated to deliver quality and value in the renewable energy sector and for the climate.”
Located in Denmark, Titan Wind Energy (Europe) owns tower production in Vardeand surface treatment and assembly in Esbjerg.
In 2013, Titan Wind in Varde delivered the prototype for the first Vestas V164 offshore wind turbine tower.