Chinese Titan Wind Energy acquires Vestas'  

wind tower facility and establishes European HQ in Varde

2012.06.13

China’s largest manufacturer of wind turbine towers, Titan Wind Energy, buys Vestas’ wind tower production site in Varde, Denmark, and at the same time establishes its European headquarters in Southern Denmark.

Titan Wind Energy is a supplier to leading global wind turbine manufacturers like Danish Vestas and American GE, and already maintains three factories in China with an overall capacity of 1600 towers a year. The new establishment in Varde will become Titans first international venture and is part of a strategic globalization process.

Mr. Yan Junxu, Founder and CEO of Titan Wind Energy (Suzhou) Co., Ltd., has high expectations for the new establishment:

- “Our new tower facility here in Denmark increases our possibilities of servicing and expanding our global customer base. The location of our European headquarters in Varde is optimal because we see Denmark as the focal point for the global wind industry. Europe is the region that offers the most promising outlook for the development of offshore wind energy.”

-  “We are looking forward to continuing our close collaboration with Vestas and to strengthening our products’ integration in the complete supply chain for the wind industry, as we become part of an extremely professional wind energy cluster with access to qualified employees, potential customers, suppliers as well as leading development and testing facilities.”

- ”We have been cooperating with Vestas for several years both in China and abroad, and we look forward to further utilizing our long-standing partnership within development and production of technology-leading towers for wind turbines,”

Invest in Denmark in the Danish Ministry of Foreign Affairs introduced Titan Wind Energy to the opportunities in Denmark, and Minister for Trade and Investment, Mrs. Pia Olsen Dyhr, says:

-      “Titan Wind Energy safeguards 120 blue collar jobs in Varde in Southern Denmark. Access to qualified and competent employees were crucial to Titan’s decision to place their first international production site in Denmark.

-      “Moreover, it is highly positive that yet another important stakeholder becomes part of the global Danish wind cluster. Titan will not only continue production at Vestas’ former site, but also use Denmark as their base for sales and development, which will further strengthen Denmark’s leading position within cleantech.

Ditlev Engel, Vestas President and CEO, is looking forward to further developing the partnership with Titan Wind Energy, he says in a press release:

-“This is an excellent agreement for all parties involved. Vestas welcomes the establishment of Titan Wind Energy in what might be described as the cradle of the global wind industry and we see a huge potential in the ongoing cooperation and co-development with Titan Wind Towers.”

Titan Wind Energy and Vestas signed the agreement Tuesday. The agreement must be approved by Chinese authorities, which is expected to happen shortly. Vestas will transfer the facility in Varde on 1 September.

As part of the official Chinese state visit in Denmark, Titan’s Wind Energy acquisition of Vestas’ Tower Factory in Varde will also be marked on Friday 15 June with the signing of a Memorandum of Understanding between the two companies.

Monday 18 June Titan Wind Energy’s CEO, Mr. Yan Junxu, will visit the factory in Varde to meet with his new employees.

Picture: After the signing of the agreement yesterday, Minister for Trade and Investment, Pia Olsen Dyhr, met with the new owner of Vestas' tower facility, Chinese Titan Wind Energy. From left to right: Mrs.Yan, Mr. Yan Junxu, President, Titan Wind Energy, Mrs. Pia Olsen Dyhr, Minister for Trade and Investment, Mr. Aaron Lee, Chief Operating Officer, Titan Wind Energy and Mr. Keld Thomsen, CEO, Titan Wind Energy Denmark.

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