FairWind, LLC and Palfinger AG Announce Joint Venture
PALFINGER AG, listed on the Vienna Stock Exchange, and the US-based company FairWind LLC, headquartered in Lawton, Oklahoma, have established a joint venture for the American wind service industry. The new company FairWind Renewable Energy Services, LLC, in which PALFINGER will hold a 51 per cent interest, will specialize in servicing wind turbines for the production of electricity.
This joint venture will open up an additional high-growth sales market for PALFINGER’s large access platforms in North America. What we and the owners and managers of FairWind LLC have in common is a similar corporate culture. To us, this joint venture is a forward integration in the world’s largest market,”
The use of large access platforms can double or even triple the efficiency of service and maintenance work. To date, workman baskets or rope access technicians have been the main methods of access.
Service In A Growing Industry
The wind service industry has grown significantly in the USA and Canada. All in all, there are now more than 60,000 onshore wind turbines there, requiring regular cleaning, routine service, blade repairs, painting, and inspections. In order to enhance efficiency, large access platforms have been gradually ousting traditional methods in the USA.
FairWind LLC is a young and dynamic company employing approximately 25 experts for the servicing of wind and oil industry equipment. The joint venture established with PALFINGER, will specialize exclusively in the maintenance of wind energy plants. In a first step, PALFINGER will supply access platforms as well as stability and financial power – indispensable assets for long-term contracts.
The new company will be managed by FairWind LLC’s owners Brett Bain and Brian Edwards, as well as Director of Finance Lance Bowman, and will start operations on July 1, 2015.
“This joint venture will open up an additional high-growth sales market for PALFINGER’s large access platforms in North America. What we and the owners and managers of FairWind LLC have in common is a similar corporate culture. To us, this joint venture is a forward integration in the world’s largest market,” commented Herbert Ortner, CEO of PALFINGER AG.
In Conclusion:
- FairWind Renewable Energy Services, LLC will service American wind energy plants
- PALFINGER will provide large access platforms
- Competitive advantage through higher efficiency of work equipment
About PALFINGER AG
For many years PALFINGER AG has been one of the world’s leading manufacturers of innovative lifting solutions for use on commercial vehicles and in the maritime field. As a multinational group headquartered in Salzburg, the Company, which has approx. 8,030 employees, generated total sales of approx. EUR 1,063 million in 2014.
The Group has production and assembly facilities in Europe, in North and South America, as well as in Asia. The pillars of corporate strategy comprise innovation and the further internationalization as well as the growing flexibility of products, services and processes. PALFINGER is regarded not only as the market leader, but also the technology leader, in the global market for hydraulic loader cranes.
PALFINGER is always in proximity to its customers due to its over 5,000 sales and services centres located in over 130 countries across all continents.
For further information about Palfinger AG, please contact:
Hannes Roither, PALFINGER AG, Company Spokesperson
Phone +43 662 46 84-82260
h.roither@palfinger.com
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