REpower Acquires PowerBlades from SGL Rotec (Germany)

Effective from December 31, 2011, REpower Systems SE has acquired by purchase the remaining 49% stake in PowerBlades GmbH from SGL Rotec GmbH & Co. KG, a majority company of SGL Group.

PowerBlades, headquartered in Bremerhaven, was founded in 2007 as a joint venture for the production of rotor blades for wind turbines. Since the beginning of the cooperation, REpower has held 51% of PowerBlades GmbH while SGL Rotec had 49% of the shares. The transaction is subject to the usual antitrust approval.

“The acquisition of the shares enables us to continue growth at our site in Bremerhaven as well as in the offshore sector and also to further guarantee the excellent quality of our turbines and components. The production of rotor blades is a key function in the manufacturing process of wind turbines”, says Gregor Gnädig, Chief Operating Officer (COO) of REpower Systems SE. More than 1,000rotor blades for wind turbines have been manufactured since the start of production at PowerBlades in 2008.

Norbert Müller, Managing Director of SGL Rotec, adds: “The joint venture was a good opportunity for both partners to build on their expertise in the area of offshore blade production. Now the time has come that the location should be further developed under the auspices of just one company. SGL Rotec expanded its own capacities at its plant in Lemwerder in 2010 and will now concentrate in the further extension of this site, which is specialized in the production of rotor blades and moulds for wind turbine manufacturers.”

The companies will remain business partners, since SGL Rotec will continue to deliver rotor blades to REpower.

[mappress]

Offshore WIND staff, January 10, 2012; Image: elbehafen