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    NDX1   DE000A0D6554

NORDEX SE

(NDX1)
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PRESS RELEASE : 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 
2021-07-23 / 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 
aeckert@nordex-online.com 
Contact for investor inquiries: 
Nordex SE 
Felix Zander 
Phone: +49 (0)40 / 300 30 - 1116 
fzander@nordex-online.com 
Tobias Vossberg 
Phone: +49 (0)40 / 300 30 - 2502 
tvossberg@nordex-online.com 
 
=---------------------------------------------------------------------------------------------------------------------- 
2021-07-23 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 
              Germany 
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 2021-07-23

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1221067&application_name=news 
 

(END) Dow Jones Newswires

July 23, 2021 01:30 ET (05:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
NORDEX SE 2.44% 15.11 Delayed Quote.-27.25%
TPI COMPOSITES, INC. 1.09% 35.11 Delayed Quote.-33.48%
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Financials
Sales 2021 5 018 M 5 865 M 5 865 M
Net income 2021 1,27 M 1,48 M 1,48 M
Net cash 2021 388 M 453 M 453 M
P/E ratio 2021 3 845x
Yield 2021 -
Capitalization 2 418 M 2 838 M 2 826 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,39x
Nbr of Employees 8 549
Free-Float 72,5%
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Number of Analysts 10
Last Close Price 15,11 €
Average target price 22,65 €
Spread / Average Target 49,9%
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Managers and Directors
JosÚ Luis Blanco Dieguez Chief Executive Officer
Ilya Taka Hartmann Chief Financial Officer
Wolfgang H. Ziebart Chairman-Supervisory Board
Jan Klatten Member-Supervisory Board
Martin Wolfgang Rey Member-Supervisory Board
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