CS Wind acquires ASMI, vows to lead offshore tower production

Wind tower and offshore foundation manufacturer ASM Industries has been acquired by CS Wind in a bid to strengthen the latter’s market dominance in European offshore wind.

Europe is leading the offshore wind market currently, and CS Wind’s new acquisition is an effort to expand the production of offshore wind towers in Europe while creating business opportunity in the monopile foundation market. Monopoles are the most widely used offshore wind foundations globally.

ASM Industries is a Portugal-based holding company, established in 2007. It has an onshore tower facility in Sever de Vouga and an offshore tower facility in Aveiro, as subsidiaries. It has previously developed technology and business experience through European onshore tower production. It entered the offshore wind market in 2019.

CS Wind, now a majority shareholder of ASM Industries, is planning to establish a core production base for European offshore wind power, in a bid to expand its offshore wind tower production volume and increase its market share. Its communicated aim is “to lead the global offshore wind power market by starting production of offshore tower substructures within the next 2-3 years.”

In June this year, CS Wind acquired Vestas’ US tower plant, the largest in the world, and decided to expand its production in Turkey. It has its eye on the global top spot.