South Korean firm acquires Wind Towers Scotland
A South Korean company has acquired Argyll-based wind turbine infrastructure firm Wind Towers Scotland (WTS).
CS Wind bought WTS from stakeholders SSE and Highlands and Islands Enterprise (HIE).
SSE said CS Wind planned to invest up to £14m in Scotland and create up to 70 new jobs in rural Argyll.
The investment is also expected to secure 134 jobs at the existing WTS plant in Machrihanish.
No financial details of the deal have been given. SSE has sold its entire 81% stake in WTS, while HIE has off-loaded its 19% share.
WTS, which was established in 2011 by SSE and HIE, supplies wind turbine infrastructure to markets across Europe.
It also provides repair and maintenance services to the sector.
CS Wind is a global manufacturer of wind farm tower structures.
SSE director of procurement Sandy Biggar said: "Transfer of our stake in the business to CS Wind at this point represents a renewed growth opportunity for Wind Towers and job security for the staff there on top of increased employment opportunities for skilled workers based in Argyll and Bute.
WTS managing director Grant McPherson said: "We are immensely pleased CS Wind has announced this major investment in Scotland.
"Machrihanish is an ideal location for wind tower manufacturing with an excellent reputation and highly skilled workforce.
"The team at Wind Towers is completely supportive of this development and already looking forward to the opportunities to come as CS Wind has stated it has big plans to build on the current success of the factory."