Portuguese Business Daily reported on August 5, 2021 that South Korean CS Wind recently acquired 60% shares of Portuguese wind power equipment manufacturing enterprise ASM Industries at the price of 46.5 million euros. In the future, CS Wind will be renamed as CS wind ASM.
CS Wind is the world’s largest wind power tower manufacturer. It has wind power equipment manufacturing plants in China, Vietnam, Malaysia, and other countries and regions. CS Wind acquired the wind power tower plant of Vestas in Denmark in June 2021.
CS Wind hopes to continue to maintain its world leading position in the field of wind power tower manufacturing and actively layout Europe. In the next step, it will invest 100 million euros into ASM industries to build it into the largest wind power tower manufacturing enterprise in Europe. ASM Industries currently has more than 350 employees, with a revenue of about 30 million euros in 2020, of which 99% comes from product exports, and the main export destinations include Europe and Latin America.
According to the CS Wind plan, ASM Industries’ revenue will double to 60-65 million euros in 2021, and will continue to grow significantly and exceed 100 million euros in 2022.
Source: Economic and Commercial Department of the Embassy in the Portuguese Republic
Edited and translated: Following The Wind