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Government sells shares in blade concern
1 January 2000
The Spanish government has given the state owned arms company Empresa Nacional Santa Barbara the go-ahead to sell its 50% share in the turbine blade manufacturing company LM Composites Toledo. The sale comes as part of the privatisation process of Santa Barbara, whose share will go to LM Glasfiber for ESP 875 million (EUR 5.2 million) making it the sole owner of LM Composites Toledo. Danish LM Glasfiber, the wind industry's largest blade supplier, has been enjoying a very healthy market in Galicia, Spain's most productive region for wind power, since its Pontes factory was set up in the region in 1996. Current developments in Castilla la Mancha (Old Castille) should further boost the company's fortunes, especially with NEG Micon's plans to invest ESP 300,000 million (EUR 1800 million) in the region by 2010 in projects amounting to 1100 MW. NEG Micon has chosen LM Glasfiber to supply the blades for these projects.
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