SIAG Schaaf Industrie AG Acquires Chattanooga Plant for Wind Towers

SIAG Schaaf Industrie Aktiengesellschaft (Dernbach, Germany) recently took over a tubular-steel plant in Chattanooga, TN from Aerisyn that produces wind turbine towers for the North-American market. Production at full capacity is almost 100 segments, or 250 towers, which shall be reached by the middle of 2011. The company will employ approximately 240 employees in Chattanooga.

At the initial stage, SIAG has taken over 70 percent of SIAG Aerisyn LLC through SIAG North American Holdings, Inc. (Dover, DE). A full takeover of the remaining 30 percent shall be completed by 2012. "We have been busy for a long time with constructing a production location in North America and we have taken an important step further by the takeover of Aerisyn in Chattanooga. Besides the location in Chattanooga, in which Volkswagen is also building a new production location, we are also planning to construct another production facility in the midwest U.S. The necessary discussions will be held directly from Chattanooga. We have taken this step to serve German and European plant manufacturers with the same quality and delivery response within the North American market as they receive from Europe. As a supplier it is our aim to follow our customers to the growing markets of wind energy," explains CEO Rudiger Schaaf.

Within one year SIAG Schaaf Industrie AG will also complete construction of another production facility in Egypt that will increase its total capacity by 600 tubular towers in 2010. Notwithstanding the financial crisis, the company?s worldwide presence will be enlarged strongly by construction of ten production facilities in Europe, Africa, America as well as a trading and quality assurance location in Singapore.