SP Group taken over by Swiss industrial group

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SP Group -- the largest supplier of composite materials to the wind energy market -- has been taken over by Swiss industrial group Gurit-Heberlein. SP makes composite materials for wind turbine blades from two plants in the group -- Structural Polymer Systems Ltd on the Isle of Wight in the UK and Structural Polymer Systems SA in Albacete, Spain. Its three key customers are Vestas, Gamesa and NEG Micon. "We have been looking for a number of years to team up with a strong industrial partner to provide the backing we need for our current and planned very high growth rates," says SP's Paul Rudling. "Gurit have the financial strength and also a solid commitment to growing their composite business." He says he expects there will be useful synergies with other composite companies in the Gurit group, but there will be no overlap in the markets they serve. "SP will continue to lead the composites activity in the three main markets of marine, wind energy and automotive." Rudling adds that SP plans a large and rapid expansion of its manufacturing and research facilities, while the company insists it will retain its independence and continue trading under its own identity.

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