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Valmont sells offshore wind unit to Euro Steel

Tuesday, November 15 2022

Wind Energy – Steel Products

Valmont Industries has entered into a definitive agreement to sell its offshore wind business to Euro Steel, a Denmark-based supplier of steel products to the European wind market.

The offshore wind business, known as Valmont SM, was acquired in 2014.

“A critical aspect of our strategy is to focus our businesses in areas where we see the highest potential for global growth, scalability and value creation,” says Stephen G. Kaniewski, Valmont’s president and CEO. “This transaction enables our Renewable Energy management team to focus exclusively on expanding our solar business, which has tremendous growth opportunities globally and better aligns with our strategy of delivering long-term value to our shareholders.”

“I want to thank our Valmont SM associates for successfully facilitating the efforts to reshape the business toward more profitable growth,” Kaniewski continues. “We are very pleased that the team will be working with a strong partner who has a shared vision to invest and grow the business to meet increasing market demand for larger turbine and structure sizes.”

The company expects the transaction to be completed this quarter.

Related posts:

  1. Ørsted sells 50% ownership MW Borssele 1 & 2 Offshore Wind Farm
  2. Shell signs agreement to sell interest in Malampaya, Philippines
  3. Viking Supply Ships cancels deal in Russia
  4. Completion of sale of Spirit Energy Norway assets

Filed Under: Euro Steel, International News, steel products, Valmont Tagged With: Euro Steel, Sale, steel products, Valmont


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