Bilfinger has sold its offshore wind manufacturing business to German industrial company VTC Group.
VTC Group acquired Bilfinger’s 62.5% interest in Bilfinger Mars Offshore, a joint venture that manufactures steel foundations for offshore wind turbines in the Polish city of Szczecin. Polish investment fund Mars will keep its 37.5% interest.
The terms of the sale are confidential, the seller said.
Bilfinger put its offshore wind activities on sale last year and Dutch company Van Oord agreed to buy its offshore installation business last month.
The selling process for the remaining marine construction activities will continue, according to the German engineering company.
“In the course of our focus on the industrial sector, activities in the area of offshore wind energy are no longer part of our core business”, Bilfinger chief financial officer Axel Salzmann said.
Image: Bilfinger
Bilfinger sells fabrication business
VTC Group buys interest in Polish steel foundation facility
By EBS