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19/06/2009
Martifer and Hirschfeld create joint venture to manufacture wind power components

Martifer Energy Systems, part of Martifer Group (www.martifer.pt), and Hirschfeld Wind Energy Solutions, part of the Hirschfeld Industries ('Hirschfeld') (www.hirschfeld.com), announce the creation of a joint venture for the manufacture of components for wind turbines in the United States of America to serve the North American markets.

The joint venture, which will be named Martifer-Hirschfeld Energy Systems LLC, will be equally held by each party.

Initially, the joint venture will develop a factory in San Angelo, Texas, for the production of steel towers for wind turbine generators. This investment was up until now developed solely by Martifer Energy Systems, and represents a total investment of about 40 million US Dollars and the creation of 225 jobs. The investment will be done in two stages, with the first stage representing an investment of about 30 million US Dollars, with completion expected for the second quarter of 2010. Ultimately, the factory is expected to reach a capacity of 400 towers a year by 2013.

This joint venture brings together the expertise of Martifer Group in the manufacturing of wind power components and the local footprint and extensive experience in infrastructure fabrication of Hirschfeld.

António Pontes, CEO of Martifer Energy Systems and Executive Director of Martifer, commented: "We are very pleased with this agreement. Hirschfeld brings a lot of expertise to this project, they are based in San Angelo so they have extensive local and market knowledge and that will speed up the start up process. This will allow us to fully benefit from the strong development of the wind power sector we are witnessing the US right now.”

Dennis Hirschfeld CEO of Hirschfeld Industries commented,” We have studied the Wind tower and equipment market for some time before deciding to enter this market. We found the right partner, at the right time to enter this market and look forward to capitalizing on our US "know-how,” as well as on Martifer Energy Systems globally respected name as an excellent supplier to the wind industry.”

 

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