Germany

Germany

Buyer found for bankrupt Ambau's Cuxhaven plant

Chinese onshore tower supplier Titan Wind Energy has entered the offshore sector by agreeing to acquire a production facility from German manufacturer Ambau.

Ambau filed for insolvency in February 2019
Ambau filed for insolvency in February 2019

Its Denmark-based European arm will buy the Ambau facility in Cuxhaven, north Germany, through its newly created and fully owned subsidiary, Titan Wind Energy Germany.

The acquisition follows the foundation and transition piece producer Ambau filed for insolvency in February 2019.

Ambau had been supplying offshore wind components for North Sea projects since 1993, but suffered a heavy losses in 2016 and 2017.

Titan Wind Energy Europe will take over the Cuxhaven plant in October after Ambau completes its obligations to its customers.

"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," said Titan Wind Energy president, Michael Buus Nielsen.

"With the experience from the facility in Cuxhaven and the many years of experience from tower production in Denmark, we will be able to utilise the synergies and know-how to create a strong set-up for the future," he added. 

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