EU OKs TAG Acquisition by Bladt, EEW
The European Commission has given their blessing to the acquisition of the assets of TAG Energy Solutions Limited by a newly created joint venture controlled by Bladt Industries A/S of Denmark and EEW Special Pipe Constructions GmbH of Germany.
Last year the joint venture decided to invest in former TAG site after the UK offshore wind farm foundation manufacturer, failing to secure more orders, ran into trouble.
The assets acquired by the joint venture consist of a complete production facility for offshore wind farm steel foundations and are currently under administration.
Both Bladt and EEW are active in the manufacturing of steel foundations for offshore wind farms.
The Commission’s investigation found that the proposed transaction does not raise any competition concerns as the market share increments brought by the acquired assets are modest, and customers will continue to have an adequate number of alternative suppliers.
Source: europa; Image: tagenergysolutions