TPI Composites Extends and Enters into New Contracts with General Electric International
October 11 2016 - 10:53AM
TPI Composites, Inc., (TPI) (Nasdaq:TPIC), the largest U.S.-based
independent manufacturer of composite wind blades, announced today
that it has extended two supply agreements with General Electric
International (“GE”) in Newton, Iowa and Juarez, Mexico through
2020. TPI also entered into a new agreement with GE for the supply
of incremental wind blades from its third party manufacturing
facility under construction in Juarez, Mexico through 2020,
expecting to begin production in the first quarter of 2017.
“We are excited to extend our contracts in Mexico
and Iowa and to enter into a new supply agreement in Mexico with
GE. TPI and GE have always been great partners and our relationship
is further strengthened by the agreements announced today,” said
Steve Lockard, TPI’s President and CEO.
"As we stated today in our announcement, it’s GE’s
intention to retain our ability to source blades from other
suppliers. We will honor our existing contracts with TPI, and note
also that we extended our existing contracts with TPI in Iowa and
Mexico recently,” said Anne McEntee, President and CEO Onshore
Wind, GE Renewable Energy.
About TPI Composites, Inc.
TPI Composites, Inc. is the largest U.S.-based
independent manufacturer of composite wind blades for the wind
energy market. TPI delivers high-quality, cost-effective composite
solutions through long term relationships with leading wind turbine
manufacturers. TPI is headquartered in Scottsdale, Arizona and
operates factories throughout the U.S., Mexico, China and
Turkey.
Investor Contact:
investors@tpicomposites.com
480-315-8742
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