ABN AMRO BANK N.V. AMRO Sustainable Impact Fund has announced the sale of its minority share in Fiberline Composites A/S, a technology-leading manufacturer of pultruded carbon and fibreglass products used in the production of wind turbine blades.
AMRO Sustainable Impact Fund has announced the sale of its minority share in Fiberline Composites A/S, a technology-leading manufacturer of pultruded carbon and fibreglass products used in the production of wind turbine blades.
Pieter Smit, investment director at ABN AMRO Sustainable Impact Fund said the following: "This sale supports the creation of strong global supply chains for the wind sector. The buyer of the stake is Gurit, a strong player in the field of wind energy. For our part, we assisted in creating a pure-play wind company through a carve-out in 2020, which enhanced the growth of Fiberline. Furthermore, we have funded a substantial capital programme to lay the foundation for international expansion, which will see Fiberline open a factory in India soon, with more factories to follow."
Headquartered in Middelfart, Denmark, Fiberline Composites operates production sites in Denmark and China and has around 300 employees. Serving major wind turbine companies around the world, the company specialises in pultruded carbon and glass blade spar components and blade root inserts.
According to Peter Thorning, Chairman of Fiberline Composites A/S, "ABN AMRO SIF's investment in Fiberline Composites at the end of 2020 enabled the company to focus its operations on the wind business and accelerate growth significantly. To continue this growth further, industrial consolidation is the next natural step. We thank ABN AMRO SIF for a successful partnership and for their important contribution to the growth of Fiberline Composites."
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ABN Amro Bank NV published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 13:05:18 UTC.
