SGL Group sells its wind blade business
Carbon fiber manufacturer SGL Group will sell its 100 percent stake in wind blade firm SGL Rotec GmbH & Co. KG to an unspecified investor.
SGL Group – The Carbon Company (Wiesbaden, Germany) reported on Dec. 20 that it has signed a contract with a strategic investor for the sale of its 100 percent stake in SGL Rotec GmbH & Co. KG. It has been agreed not to disclose the purchase price, contractual details or the name of the buyer. The acquisition is expected to be completed by Dec. 31, 2013.
Dr. Jürgen Köhler, designated CEO of SGL Group, says, “As part of the strategic repositioning of SGL Group, we are pulling out of rotor blade production and have sold our 100 percent stake in SGL Rotec. In future, we will in the carbon fiber business focus more strongly on our core competency of material development and production.”
As part of this transaction, the SGL Rotec site in Lemwerder, Germany (Lower Saxony), which currently employs approximately 550 people, will be completely acquired. The new owner is planning to expand the production and the site.
A spokesperson of the investor says, “The employees of SGL Rotec are pioneers when it comes to processing carbon for the wind industry; they contribute to the further improvement of the global reputation of ‘Made in Germany,’ particularly regarding modern environmental technologies. Our focus is on continuity and we will proceed on the path which SGL Group has embarked upon and grow further.”
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