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United Kingdom

Uncertain onshore market forces Mabey Bridge to close renewables unit

UK: Uncertain market conditions have forced tower fabricator Mabey Bridge to close its renewables division after failing to find a buyer.

Mabey Ridge has manufactured towers for UK wind projects
Mabey Ridge has manufactured towers for UK wind projects

The company announced last December that it was looking for a buyer for its renewables division following a review of the group's businesses.

Mabey Bridge chairman Juliette Stacey blamed "uncertainty of market conditions for the UK onshore wind industry" as a main reason for the decision.

The company said it had been in discussion with firms from the UK and abroad about a takeover.

One company had been in exclusive conversations but Mabey said: "It became apparent at the end of last week that the deal was not going to reach a successful conclusion."

The firm said it would honour its current contracts, which are due for completion in September 2015.

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