PowerBlades, headquartered in Bremerhaven, Germany, was established in 2007 as a joint venture between REpower, a subsidiary of wind turbine manufacturer Suzlon, and SGL Rotec, a manufacturer of wind turbines blades and a joint venture between Abeking & Rasmussen Schiffs- und Yachtwerft and SGL Group.

REpower held 51% of the shares of PowerBlades while SGL Rotec had 49%.

PowerBlades has manufactured more than 1000 rotor blades for wind turbines since the start of production in 2008.

"The acquisition of the shares enables us to continue growth at our site in Bremerhaven as well as in the offshore sector and also to further guarantee the excellent quality of our turbines and components," says Gregor Gnädig, Chief Operating Officer (COO) of REpower Systems SE. "The production of rotor blades is a key function in the manufacturing process of wind turbines.”

"The joint venture was a good opportunity for both partners to build on their expertise in the area of offshore blade production," adds Norbert Müller, Managing Director of SGL Rotec. "Now the time has come that the location should be further developed under the auspices of just one company. SGL Rotec expanded its own capacities at its plant in Lemwerder in 2010 and will now concentrate in the further extension of this site, which is specialised in the production of rotor blades and moulds for wind turbine manufacturers.”

SGL Rotec will continue to deliver turbine blades to REpower.