LM Glasfiber, the world’s leading independent manufacturer of blades for wind turbines, and Samsung Heavy Industries Co. Ltd., a member of the world’s largest multinational conglomerates, have signed a strategic cooperation agreement for the supply of blades for Samsung’s new 2.5 MW wind turbine.
The agreement comprises a firm blade supply contract of minimum 1,500 MW over the next five years. The blades will be delivered from LM Glasfiber’s facilities in the USA.
Mr. Han, Executive VP of Samsung Heavy Industries Wind Division says: “Samsung sees a large potential in the growing wind market. We have chosen LM Glasfiber as the supplier of blades for our new wind turbine because of their strong global presence in all major wind markets, their extensive R&D capabilities and long proven track record and we look forward to working with the leading blade supplier in this industry.”
Mr. Roland Sundén, CEO of LM Glasfiber adds: “We are proud to enter into this strategic agreement with one of the world’s leading industrial corporations and assist them in their successful entry into the wind market. This agreement highlights LM Glasfiber’s ability to contribute to strategic cooperation with leading industrial players by applying our expertise within the manufacturing and development of highly competitive rotor solutions.”
For additional information please contact:
LM Glasfiber
Helle Larsen Andersen, Senior Manager Communications
Tel. +45 51388369
E-mail: hla@lmglasfiber.com
About Samsung Heavy Industries Co. Ltd
Samsung Heavy Industries announced their entry into the wind market in 2008 with the launch of a 2.5MW wind turbine in the US market. The company aims to become the world’s seventh largest supplier of wind turbines with a market share of 10% by 2015. Samsung Heavy Industries also announced its entry into the offshore wind market leveraging its long time experience in offshore facilities. The 2008 revenue of Samsung Heavy Industries amounted to US$ 8,480 million.
Samsung Heavy Industries is a member of The Samsung Group, the world’s largest conglomerate headquartered in Samsung Town, Seoul, South Korea. The annual revenue of The Samsung Group amounted to US$ 164 billion in 2008. The main units in the Samsung group are: Samsung Electronics, Samsung Heavy Industries, and Samsung C&T. These three multinationals form the core of The Samsung Group and reflect its name - the meaning of the Korean word Samsung is "tristar" or "three stars".
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