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Blade manufacturer LM Glasfiber sold to UK investment fund
1 May 2001
With a view to LM Glasfiber becoming a public company within five years, owner Flemming Skouboe has sold the Danish wind turbine blade manufacturer to Doughty Hanson & Co, a multinational investment fund broker based in the UK. Final takeover details are expected to be cleared this month. LM was founded in 1965 as a furniture company in the small Jutland town of Lunderskov under the name Lunderskov Møbelfabrik. It later moved into the glassfibre yacht business before expanding into the wind industry 20 years ago. Today LM is the largest blade producer in the world with a market share of around 47%. In 2000, it built 7200 blades. Current management and activities will not change. Doughty Hanson is planning an investment strategy which will strengthen the company's position in the growing wint turbine industry, says LM.
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