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    NDX1   DE000A0D6554


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Nordex SE: Nordex Group announces new strategic collaboration with TPI Composites in Mexico

07/23/2021 | 01:31am EDT

DGAP-News: Nordex SE / Key word(s): Alliance
Nordex SE: Nordex Group announces new strategic collaboration with TPI Composites in Mexico

23.07.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

Hamburg, 23 July 2021. Against the backdrop of a continuing market momentum and a strong order intake, the Nordex Group and the American rotor blade manufacturer TPI Composites have agreed on a unique strategic partnership in addition to collaborating in Turkey and India. As part of this innovative collaboration model, the Nordex Group will transfer the operation of its Mexican rotor blade production in Matamoros to TPI for a period of three years. Starting July 2021, during this period, both partners will further increase the efficiency and output of the rotor blade production, which mainly serves the American markets, by leveraging the unique expertise of TPI as a leading expert in rotor blade process technology.

The Nordex facility currently produces two different rotor blade types. TPI will take over the facility and start blade production exclusively for the Nordex Group. The agreement also includes the details of the return of the fully operational facility to the Nordex Group in 2024. The agreement also has an extension option upon mutual agreement. In order to ensure production continuity, TPI will take over the approximately 1,500 employees of the Nordex rotor blade production facility in Matamoros.

The transaction marks another milestone of the Nordex Group's growth path by further strengthening its global production footprint and increasing the flexibility of its key component supply chain.

"We are very pleased to have TPI, the leading global manufacturer of rotor blades with a strong foothold in Mexico, as our strategic partner," explains José Luis Blanco, CEO of the Nordex Group. "This partnership allows us to safeguard our profitable growth in the coming years and to capture further market opportunities by securing fast deliveries and high delivery reliability for our US customers in particular. This enables us to focus our resources on our other worldwide strategic ramp-up activities."

"We are pleased that the Nordex Group has chosen to expand the relationship with TPI by trusting us with their blade production in Mexico. It has been a strong global relationship since 2013," adds Bill Siwek, TPI's President and CEO.

The Nordex Group and TPI have been working together closely for years: since 2013, the Nordex Group has been purchasing its rotor blades from TPI in Turkey, from TPI in China through 2020, and started buying rotor blades from TPI in India in 2021.

The Nordex Group - a profile
The Group has installed more than 33 GW of wind energy capacity in over 40 markets and in 2020 generated revenues of EUR 4.6 billion. The company currently employs a workforce of approx. 8,500. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India and Mexico. The product portfolio is focused on onshore turbines in the 4 to 5.X MW class, which are tailor-made for the market requirements of countries with limited space and regions with limited grid capacity.

Contact for press inquiries:
Nordex SE
Antje Eckert
Phone: +49 (0)40 / 300 30 - 2158

Contact for investor inquiries:
Nordex SE
Felix Zander
Phone: +49 (0)40 / 300 30 - 1116

Tobias Vossberg
Phone: +49 (0)40 / 300 30 - 2502


23.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Nordex SE
Erich-Schlesinger-Straße 50
18059 Rostock
Phone: +49 381 6663 3300
Fax: +49 381 6663 3339
E-mail: info@nordex-online.com
Internet: www.nordex-online.com
ISIN: DE000A0D6554
WKN: A0D655
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1221067

End of News DGAP News Service

1221067  23.07.2021 


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