South Korean manufacturer CS Wind has acquired 100% of fabrication outfit Wind Towers Scotland.
The company plans to invest up to £14m in the Kintyre facility, creating around 70 new jobs, with current operations expanding to include offshore wind.
CS Wind Corporation chairman SeongGon Gim said: “This investment aims to provide confidence to the industry that we want to deliver a long-term cost-competitive tower to serve the European offshore wind market from the UK.”
Majority owner SSE confirmed on Friday it had agreed to offload its 81% stake in the company. HIE is also offloading its 19% holding. Financial details of the deal were not disclosed.
Wind Towers managing director Grant McPherson said: “Machrihanish is an ideal location for wind tower manufacturing with an excellent reputation and highly skilled workforce.
“The team is completely supportive of this development and already looking forward to the opportunities to come as CS Wind has stated it has big plans to build on the current success of the factory.”
SSE said: “Transfer of our stake in the business to CS Wind at this point represents a renewed growth opportunity for Wind Towers and job security for the staff there on top of increased employment opportunities for skilled workers based in Argyll and Bute.”
Wind Towers Scotland was established in 2011. CS Wind was previously linked with plans for a tower plant in the Humber region.
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