Japanese Sumitomo Takes Stake in One of EEW Group’s Three New Holding Companies

August 19, 2024, by Adrijana Buljan

Japan-based Sumitomo Corporation has acquired an equity stake in EEW Offshore Wind Holding, one of three new holding companies EEW Group founded to organise its business more efficiently, according to the German foundation manufacturer.

Monopiles being loaded at EEW SPC quayside in Rostock, Germany; Photo: EEW Group

According to EEW Group, Sumitomo’s stake has been in commercial effect since 1 July. The Group said on 19 August that, in Sumitomo, the family-run EEW Offshore Wind Holding has a strong strategic partner with extensive international steel market expertise.

“In order to continue to secure our position as global market leader, to continue to enable healthy growth and to be able to draw on sufficient resources to successfully handle large-scale projects, we, the owner families of Schorge and Dietze, have decided to bring a trusted strategic partner on board for this division. The majority shares remain with us as the owner families”, said Christoph Schorge, Managing Partner of the EEW Group.

The closing of the transaction is still subject to relevant EU approvals.

“We are excited to partner with EEW, enhancing our role in the offshore wind market. This investment aligns with our commitment of contributing to green transformation and global shift to renewable energy”, said Takuro Horikoshi, General Manager of Steel Products SBU, Sumitomo Corporation.

Announcing the partnership with Sumitomo, EEW Group also detailed on the three newly founded holding companies that organise the group’s companies in line with business segments.

EEW Offshore Wind Holding bundles the monopile business with the production site in Rostock (EEW SPC) and the associated mechanical engineering activities (AWS Schäfer, Siegen, DE). The newly founded service company, EEW Management Services, will take over the services previously provided by EEW Holding and has also been assigned to this division.

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The two other new holding companies are EEW Pipe Solutions Holding and EEW AOS Holding which organise the other EEW companies according to business area and locations. The existing management of the group of companies will remain in place.

In the future, EEW Holding will be a purely asset-managing company and will no longer provide its own services and act as a parent company. The company name will be changed to DiScho Vermögensverwaltung GmbH & Co. KG (DiScho), EEW Group said.