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TPI buys out joint venture interest in Turkey

News International-French

20 Mar 2014

TPI Composites announced today that it has acquired the remaining twenty-five percent (25%) interest in its joint venture wind blade operation in Izmir, Turkey. 

TPI launched the business in 2012 with a local partner ALKE ÎNŞAAT and has grown the operation into the largest wind blade manufacturer in the region. TPI has invested more than $35M to fully capitalize the Turkey operation, including a complete upgrade to its 355,000 square-foot building.

“We are very pleased to have signed long-term agreements for our initial capacity in Turkey with leading customers in the region”, said Steve Lockard, President & CEO of TPI Composites.  “It is a great thrill to see our world-class operation take shape and ramp to its full capacity.”

About TPI Composites, Inc.:
TPI Composites is a U.S.-based leading global supplier of structural composite products to the wind energy, military, and transportation markets. TPI delivers high-quality, cost effective composite solutions through long term partnerships with leading manufacturers. TPI operates factories throughout the U.S., Mexico, China and Turkey.