CS Wind (112610), the No. 1 global wind power tower company, announced on the 23rd that it has decided to acquire an additional 190,000 shares (40% stake) in ASM Industries, a European wind tower, and offshore tower substructure producer.
CS Wind acquired a 60% stake in ASM Industries in October '21 to advance into the European offshore wind power market, and will acquire 100% of the stake through this decision to acquire an additional 40% of the remaining stake.
Through this, the company expects that it will be an opportunity to more strategically utilize the business capabilities and European market experience accumulated by ASM Industries in the onshore and offshore wind tower sector by securing the independent management rights of ASM Industries.
Since ASM Industries was incorporated as a subsidiary of CS Wind in October, ASM Industries has been strengthening its business competitiveness by improving production capacity, securing good customers, and expanding new orders. The company explains that the need for faster and more efficient decision-making has increased.
According to a company official, “We decided to acquire all of the shares under the judgment that a stable management system should be the foundation for not only strengthening ASM Industries’ business capabilities but also securing mid- to long-term future competitiveness.” He said, “Securing 100% of ASM Industries’ management rights is an optimal investment decision based on the potential growth potential of the European offshore wind power market, and we will continue to realize future growth momentum together with an increase in earnings in the European market.”
