Wind turbine manufacturer REpower Systems SE says it has acquired the remaining 49% stake in PowerBlades GmbH from SGL Rotec GmbH & Co. KG, a majority company of SGL Group.
PowerBlades, headquartered in Bremerhaven, Germany, was founded in 2007 as a joint venture for the production of rotor blades for wind turbines. Since the beginning of the cooperation, REpower has held 51% of PowerBlades GmbH, while SGL Rotec had 49% of the shares. The transaction is subject to the usual antitrust approval.
‘The joint venture was a good opportunity for both partners to build on their expertise in the area of offshore blade production," says Norbert Muller, managing director of SGL Rotec. "Now the time has come that the location should be further developed under the auspices of just one company. SGL Rotec expanded its own capacities at its plant in Lemwerder in 2010 and will now concentrate in the further extension of this site, which is specialized in the production of rotor blades and molds for wind turbine manufacturers."
The companies will remain business partners, as SGL Rotec will continue to
deliver rotor blades to REpower.