Abn Amro invests in Fiberline Composites



Abn Amro’s Power Transition Fund (ETF) has taken over 34 per cent of the shares in Danish composites producer Fiberline Composites. Abn Amro ETF is an impartial subsidiary of Dutch financial institution Abn Amro. The brand new robust co-investor will give Fiberline the monetary functionality to broaden actions within the space of composite pultrusions for wind turbine blades.

The corporate has greater than tripled its enterprise prior to now 5 years and expects to triple once more within the coming 5 years. The corporate intends to observe its prospects globally, which incorporates establishing manufacturing amenities on a number of continents. Moreover, to attain the marketing strategy, a brand new board of administrators with a agency footing within the wind sector might be appointed. Fiberline’s non-wind actions have been positioned in a separate firm.

With this transaction, Fiberline has attracted a capital-strong co-owner for the corporate’s wind actions.

Abn Amro ETF has a transparent technique with regards to investing in sustainable expertise, which made Fiberline a pure match. Fiberline was searching for capital in an effort to implement its bold development technique and observe prospects globally.

Pieter Smit, funding director at Abn Amro ETF, says: “Fiberline Composites has confirmed its means to efficiently get its progressive supplies included into the world’s longest and most superior wind turbine blades. This enterprise completely suits in our technique to, amongst different funding pillars, put money into corporations that may play a key position in accelerating the vitality transition.”

Ole Arenfeldt Jensen, CEO, says: “We’re proud to have the ability to appeal to a powerful and critical investor. We stay up for accelerating our development technique inside wind turbine blades the place we’ve been first mover in glass- and carbon fibre pultrusions for 3 a long time. Extra superior blades are essential to the success of the wind sector. As blades develop into longer and generate extra energy then pultrusions are an indispensable part.”

After approval, Fiberline will appoint a brand new board of administrators, consisting of plenty of heavy-weights from the worldwide wind sector together with the previous CEO of LM Wind Energy, Marc de Jong, the previous CEO of JSB, Frank V Nielsen and the previous vice chairman of Procurement at Vestas and present CEO at Jysk Energi, Lars Naur. Peter Thorning will proceed in his position as chairman, and Abn Amro ETF might be represented within the board of administrators by Smit.

By way of a big capital injection and the acquisition of shares from the Thorning household, Abn Amro ETF will maintain 34 per cent of Fiberline Composites’ shares. The capital injection signifies that Fiberline Composites will now be totally targeted on the wind sector, as this transaction additionally contains the separation of Fiberline’s development division into an impartial firm. This entity will stay solely with the Thorning household underneath the title Fiberline Constructing Profiles.

The transaction is topic to approval of the Bundeskartellamt (German competitors authorities).

Fibre2Fashion Information Desk (SV)

Abn Amro’s Power Transition Fund (ETF) has taken over 34 per cent of the shares in Danish composites producer Fiberline Composites. Abn Amro ETF is an impartial subsidiary of Dutch financial institution Abn Amro. The brand new robust co-investor will give Fiberline the monetary functionality to broaden actions within the space of composite pultrusions for wind turbine blades.





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