Germany

Germany

TPI Composites buys Senvion-owned engineering team

US-based blade manufacturer TPI Composites has acquired a team of engineers from Euros Group, which is owned by cash-strapped turbine manufacturer Senvion.

Senvion acquired blade development and manufacturing firm Euros Group in 2016
Senvion acquired blade development and manufacturing firm Euros Group in 2016

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Blade development and manufacturing firm Euros Group is based in Berlin and has about 20 technical experts, new owner TPI stated.

Financial terms of the transaction have not been disclosed.

Ramesh Gopalakrishnan, TPI’s chief operating officer, said the purchase would allow the US firm to apply "technical know-how in blade engineering and mould design... on a broader scale".

Senvion has owned blade manufacturer Euros Group since 2016.

The struggling turbine manufacturer has filed for self-managed administration and is in the midst of a ‘transformation programme’ launched in February 2019.

It is believed Senvion is in discussions with interested parties about finding an investor, or possibly a buyer, as it seeks to stabilise the company.

The German OEM clearing its backlog of orders has helped free up revenue, but it has not yet completed its recovery.

Windpower Monthly explored Senvion’s future options this week.

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