The world’s largest producer of wind towers, South Korea´s CS Wind, will invest EUR 100 million in its newly bought offshore wind factory in Aveiro, Portugal, and a further 15 million euros in another unit in Sever do Vouga.
The investment will expand CS Wind´s facilities in the Logistic and Industrial Activities Zone of the Port of Aveiro, and also in Sever do Vouga, after having acquired ASM Industries, for EUR 46.5 million euros in 2021.
The investment will be made gradually until the end of 2024, and will triple the company’s production capacity, boosting earnings to EUR 400 million in 2025.
Korea’s CS Wind Buys Majority Stake in Portugal’s ASM Industries
The South Korean giant wants to double the two units manpower, to 1,000 in 2025, due to the high demand mainly in the European and North American offshore markets, according to Negocios newspaper.
ASM Industries grew to be one of the largest manufacturers of wind towers in Europe, after an ambitious expansion plan, focused on reinforcing production capacity in Sever do Vouga and in the creation of the new offshore factory, in the Port of Aveiro.
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