LEEDS, England, February 12, 2015 /PRNewswire/ --
CS WIND UK LIMITED - an overseas subsidiary of the South Korean CS Wind Corporation - has confirmed today that it has been awarded Regional Growth Funding from the UK Government Department for Business Innovation & Skills (BIS) to build an offshore wind tower manufacturing facility in the Humber, UK.
Subject to orders and site selection CS Wind UK Limited plan to build an offshore wind tower manufacturing facility in the Humber region. This investment would result in the first factory in the UK to commercially produce offshore wind towers.
"We are delighted to be able to announce our intention to make this investment in the UK today. This grant will enable us to accelerate our investment plans and provide confidence to the industry that we want to deliver a long-term cost-competitive tower to serve the European offshore wind market," Youngjae (David) Ryu, CS Wind UK Managing Director, commented.
Ryu added, "CS Wind has been investigating the UK market for 12 months working closely with HMG cross government teams, the offshore industry and regional networks to build a business case and develop a sustainable order book throughout Europe."
The facility would become the European headquarters and generate almost 200 direct jobs in the local area, as well as a significant additional number of jobs in the local supply chain.
Business and Energy Minister Matthew Hancock said:
"The offshore wind sector is important, supporting thousands of jobs and contributing millions to the economy each year. We lead the world in offshore wind power generation and are working hard with industry to build up our supply chain.
"I hope the RGF funding awarded to CS Wind today will support their aspiration to build the UK's first factory dedicated to the production of offshore wind towers. This could generate up to 200 local jobs in the Humber as well as many more in the local supply chain."
About CS Wind Corporation
As a global company producing world-class utility scale wind towers, CS Wind Corporation takes pride in unrivalled competitiveness in terms of supply capabilities, quality and market diversification. Based on experience and know-hows gained from 20 years of steel structure business, CS Wind Corporation is making a quantum leap since it began wind tower business in 2003. Headquartered in Cheonan, South Korea, CS Wind is operating three overseas manufacturing bases in Canada, Vietnam and China. The company has built long-term strategic partnership with global leading wind turbine OEMs by supplying thousands of high-quality wind towers on time for more than a decade. Up to now, CS Wind has delivered over 5,600 wind towers to global wind markets. It is aiming at sustainable long-term growth through diversification of business in building offshore towers and structural steel pipes for oil & gas industry.
About RGF
Today's award is subject to the completion of satisfactory due diligence.
The Government's Regional Growth Fund has invested nearly £3 billion to help businesses in England to grow; so far generating over 100,000 jobs.
56 new awards in Round 6 and seven through exceptional RGF support - announced on 12 February 2015 - give £297 million to 63 projects and programmes to create and safeguard thousands more jobs and unlock an additional £1.5 billion private sector investment.
THE INFORMATION IN THIS DOCUMENT SHOULD ONLY BE USED SHOULD CS WIND BE OFFERED A CONDITIONAL RGF AWARD IN FEBRARY 2015
Contact
Hee Joung Moon, +44(0)113457-0024
