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MarketScreener Homepage  >  Equities  >  Nasdaq  >  TPI Composites Inc    TPIC

TPI COMPOSITES INC

(TPIC)
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TPI Announces Acquisition of Engineering Team in Berlin, Germany

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07/12/2019 | 06:01am EDT

SCOTTSDALE, Ariz., July 12, 2019 (GLOBE NEWSWIRE) -- TPI Composites, Inc., (TPI) (Nasdaq: TPIC), the only independent manufacturer of composite wind blades with a global footprint, announced today that it has acquired a team of engineering resources from the EUROS group, based in Berlin, Germany. EUROS has been owned by Senvion since 2016. The Berlin-based team of approximately 20 technical experts focuses on blade design, tooling, materials and process technology development.

William Siwek, TPI’s President commented, “TPI is pleased to announce the addition of the experienced and skilled engineering team at EUROS. The EUROS transaction helps strengthen our technical capabilities in support of our global operations and growth.”

Ramesh Gopalakrishnan, TPI’s COO added, “The experience and skills of this engineering team will enable us to offer complete blade solutions. The technical know-how in blade engineering and mold design can now be applied on a broader scale.”

About TPI Composites, Inc.

TPI Composites, Inc. is the only independent manufacturer of composite wind blades for the wind energy market with a global manufacturing footprint. TPI delivers high-quality, cost-effective composite solutions through long term relationships with leading OEMs in the wind and transportation markets. TPI is headquartered in Scottsdale, Arizona and operates factories throughout the U.S., China, Mexico, Turkey, and India. TPI operates additional engineering development centers in Denmark and Germany.

Investor Contact:
investors@tpicomposites.com
480-315-8742

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© GlobeNewswire 2019
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Financials (USD)
Sales 2019 1 462 M
EBIT 2019 26,5 M
Net income 2019 -2,63 M
Debt 2019 106 M
Yield 2019 -
P/E ratio 2019 -353x
P/E ratio 2020 12,1x
EV / Sales2019 0,70x
EV / Sales2020 0,52x
Capitalization 918 M
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Mean consensus BUY
Number of Analysts 9
Average target price 34,33  $
Last Close Price 26,22  $
Spread / Highest target 56,4%
Spread / Average Target 30,9%
Spread / Lowest Target 6,79%
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Managers
NameTitle
Steven C. Lockard President, Chief Executive & Operating Officer
Paul G. Giovacchini Chairman
William E. Siwek Chief Financial & Accounting Officer
Ramesh Gopalakrishnan Senior VP-Technology & Industrialization
Stephen B. Bransfield Independent Outside Director
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