TPI and Senvion Sign Wind Blade Supply Agreement and Cooperate on RodPack Technology
August 14 2017 - 7:30AM
TPI Composites, Inc., (TPI) (Nasdaq:TPIC), the only independent
manufacturer of composite wind blades with a global footprint,
announced today that it is providing additional details regarding
the signing of a new supply agreement that it previously disclosed
on August 8, 2017.
TPI has signed a multiyear supply agreement with Senvion S.A. to
provide blades from two manufacturing lines for wind markets
including Asia, Australia and South America. The blades will be
produced at TPI’s facility in Taicang Port, Jiangsu province, China
with production planned to commence in Q1 2018.
The blades will be manufactured using proprietary RodPack
technology, a highly advanced material system that when used in the
main girder, enables optimized blade design as well as faster and
higher-quality blade production. Senvion purchased the
RodPack technology in 2015 and has designed it into several blade
models. As part of this agreement, TPI will establish
high-volume, high-quality, low-cost supply of RodPack from its
operations in China.
“We are pleased to add Senvion as a key customer and that
Senvion has chosen TPI as its wind blade outsource and technology
partner for the Asian, Australian and South American markets,” said
Steve Lockard, President and CEO of TPI Composites. “TPI will
support Senvion’s technology advancements by producing RodPack
material in a world-class manner.”
Christian Roth, COO of Senvion added, “We have chosen TPI due to
its strong quality track-record, cost competitiveness, global
footprint and ability to support Senvion’s drive for technology
leadership.”
TPI has produced wind blades in Taicang Port, China since 2007.
TPI currently produces wind blades and precision molding and
assembly systems in four facilities in China.
About TPI Composites, Inc.
TPI Composites, Inc. is the only independent manufacturer of
composite wind blades for the wind energy market with a global
footprint. 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., China, Mexico, and
Turkey.
About Senvion S.A.
Senvion is a leading global manufacturer of onshore and offshore
wind turbines. The company develops, produces and markets wind
turbines for almost any location - with rated outputs of 2 MW to
6.15 MW and rotor diameters of 82 metres to 152 metres.
Furthermore, the company offers its customers project specific
solutions in the areas of turnkey, service and maintenance,
transport and installation, as well as foundation planning and
construction. The systems are designed at the Senvion TechCenter in
Osterrönfeld and manufactured at its German plants in Husum (North
Friesland), Trampe (Brandenburg) and Bremerhaven, as well as
Portugal. With approximately 4,500 employees worldwide, the company
makes use of the experience gained from the manufacture and
installation of more than 6,600 wind turbines around the world. The
company's operational subsidiary Senvion GmbH is based in Hamburg
and represented by distribution partners, subsidiaries and
participations in European markets such as France, Belgium, the
Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland
as well as on a global level in the USA, China, Australia, Japan,
India and Canada. Senvion S.A. is listed on the Prime Standard of
the Frankfurt Stock Exchange.
Investor Contact:
investors@tpicomposites.com
480-315-8742
TPI Composites (NASDAQ:TPIC)
Historical Stock Chart
From Mar 2024 to Apr 2024
TPI Composites (NASDAQ:TPIC)
Historical Stock Chart
From Apr 2023 to Apr 2024