14 October 2005
14 October 2005
LM Glasfiber is to increase its blade production capability in India.
This development is in response to the strong growth in the regions’ wind power market. The new facility will be located in Dobespet (District Bangalore-Rural) in Karnataka, which is a central area for the Indian wind energy market.
The investment of approximately DKK 100 million will create around 300 local jobs when the factory becomes operational in the second half of 2006 bringing the number of LM Glasfiber employees in the region to approximately 720.
Designed for the manufacture of blades with lengths of 34 metres or more for multi- MW wind turbines, the factory will have an annual production capacity of about 400 MW. Production of smaller blades will continue at LM Glasfibers existing facility in Hosakote near Bangalore.
Commenting on the development, LM Glasfiber’s Sales and marketing Director Søren F. Knudsen said: “Our investment in this new facility will boost our customers’ competitive strength in the Indian market quite significantly. We are witnessing a sharp increase in demand for large 1.5-2 MW wind turbines in India, and the new factory will provide our customers with great, local production capacity for the latest generation of multi-MW blades. Three factors are decisive for our customers: that they can source locally manufactured blades of a consistently high quality in the principal markets, that they can buy the blades in local currencies, and that they can minimise their transportation costs and working capital requirements. The new factory meets all three requirements.”
LM Glassfiber has seen profits soar this year, highlighted when it posted its financials for the first six months of 2006 showing revenue of DKK 1,099 million, up 20 percent on the same period of 2004. In the financial report, the Danish manufacturer of blades for wind turbines said that the revenue increase was attributable to a higher level of activity in North America and Asia and a change in sales seasonality in Northern Europe.
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