Chinese tower manufacturer Titan Wind Energy is entering the offshore wind foundations business with the acquisition of German fabricator Ambau.
Titan, which has a European HQ in Denmark, said the move is an “important strategic step”, which will allow the company to target the European offshore wind market.
An official takeover will take place in October when the Cuxhaven-based Ambau completes its final customer obligations, said Titan.
Ambau, which makes both turbine towers and foundations, had been in administration since earlier this year after filing for bankruptcy.
Europe president Michael Buus Nielsen said: “Ambau has been playing an important role of supplying foundations for offshore wind turbines in the North Sea area and has an ideal location for the future demand within the offshore wind industry.”
He added: “With the experience from the facility in Cuxhaven and the many years of experience from tower production in Denmark, we will be able to utilize the synergies and knowhow to create a strong set up for the future.”