TPI Buys Out JV Interest In Turkey

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TPI Composites has announced that it has acquired the remaining twenty-five percent interest in its joint venture wind blade operation in Izmir, Turkey.

TPI launched the business in 2012 with a local partner ALKE ÎNŞAAT and has grown the operation into the largest wind blade manufacturer in the region.

TPI has invested more than $35M to fully capitalize the Turkey operation, including a complete upgrade to its 355,000 square-foot building.

“We are very pleased to have signed long-term agreements for our initial capacity in Turkey with leading customers in the region,” said Steve Lockard, president & CEO of TPI Composites.  “It is a great thrill to see our world-class operation take shape and ramp to its full capacity.”