Bech-Bruun assists Chinese Titan Wind Energy in acquisition of tower factory from Vestas
In January 2012, Vestas decided to close its tower factory in Varde, Denmark. Yesterday, an agreement was, however, concluded with Chinese Titan Wind Energy (Suzhou) Co. Ltd. on a takeover of the Varde factory. Listed in China and China's largest global wind turbine tower manufacturer, Titan has since 2006 to an increasing extent provided wind turbine towers to Vestas.
With this acquisition, approx. 120 jobs are kept in Denmark and the transaction has therefore attracted considerable political attention.
"Bech-Bruun represented Titan and we have benefitted immensely from the unique competencies of our Chinese Desk", states Monica Reib, partner.
See the press release for further information on Vestas homepage.