Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

TPI COMPOSITES, INC.

(TPIC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

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

07/26/2021 | 11:18am EDT

Hamburg - 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 Jose 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:

Antje Eckert

Tel: +49 (0)40 300 30 2158

Email: aeckert@nordex-online.com

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about TPI COMPOSITES, INC.
09/07TPI COMPOSITES : September 2021 Company Presentation
PU
08/30TPI COMPOSITES : BofA Securities Initiates Coverage on TPI Composites With Underperform Ra..
MT
08/05TPI COMPOSITES : Q2 Earnings Snapshot
AQ
08/05TPI COMPOSITES : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS O..
AQ
08/05TPI COMPOSITES : Earnings Flash (TPIC) TPI COMPOSITES Reports Q2 Revenue $458.8M, vs. Stre..
MT
08/05TPI COMPOSITES, INC : Results of Operations and Financial Condition, Financial Statements ..
AQ
08/05Tpi Composites, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 202..
CI
08/05TPI COMPOSITES : Announces Second Quarter 2021 Earnings Results – Delivers Double Di..
AQ
08/05TPI Composites, Inc. Updates Earnings Guidance for the Full Year Ending December 31, 20..
CI
07/27TPI COMPOSITES : Roth Capital Adjusts TPI Composites' Price Target to $50 From $60, Mainta..
MT
More news
Analyst Recommendations on TPI COMPOSITES, INC.
More recommendations
Financials (USD)
Sales 2021 1 775 M - -
Net income 2021 -49,1 M - -
Net Debt 2021 132 M - -
P/E ratio 2021 -25,8x
Yield 2021 -
Capitalization 1 284 M 1 284 M -
EV / Sales 2021 0,80x
EV / Sales 2022 0,75x
Nbr of Employees 14 900
Free-Float 92,0%
Chart TPI COMPOSITES, INC.
Duration : Period :
TPI Composites, Inc. Technical Analysis Chart | TPIC | US87266J1043 | MarketScreener
Technical analysis trends TPI COMPOSITES, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 34,47 $
Average target price 47,32 $
Spread / Average Target 37,3%
EPS Revisions
Managers and Directors
William E. Siwek President, Chief Executive Officer & Director
Bryan Robert Schumaker Chief Financial Officer
Steven C. Lockard Chairman
Theo Gibson Chief Information Officer
Thomas J. Castle Senior VP-Operations & Strategic Markets