This marks a leap where the combined strengths of both companies will pave the way for innovation, optimized production, and global reach as Bladt Industries is integrated into CS Wind’s global organization. One of the main priorities is to further develop and strengthen the key production sites in Denmark – at both Lindø and Aalborg – securing the ability to supply future demand for the global wind-power industry. This will require the recruitment of further skilled labor as the company’s strategy is adjusted to the new global organization.
Today’s closing of the acquisition, which was announced on 10 July 2023, is the first step in integrating Bladt Industries into the CS Wind family. The full integration of the Danish industry icon will establish a more comprehensive and strengthened value chain, further facilitating the ability to deliver on the growing demand for wind-powered green energy. Mr. Seong-Gon Gim, Chairman of CS Wind, states:
“Welcoming Bladt's expertise, valuable production traditions, and workforce in our family, our united goal extends beyond achieving ambitious growth. It's about strengthening our global presence, which includes integrating Bladt’s expertise into the CS Wind family and leveraging our worldwide supply chain and production capabilities. Our vision is to strengthen and elevate the global appeal of our products and accelerate the green transition. Integrating Bladt into CS Wind's international “value and supply chain” will enhance efficiency, delivering increased value to customers, investors, and partners. This will further drive our global expansion, boost sales, and enhance value creation as we optimize our production facilities.”
Bladt Industries’ unique position as a provider of quality foundations, substations, and transition pieces for the offshore wind industry, now augmented by CS Wind's global presence, delivers huge experience in production optimizations and innovations, and gives the possibility to leverage manufacturing facilities worldwide. This ensures that the combined offerings of CS Wind can create increased value for both customers and investors.
As part of the closing of the acquisition Mr. Joseph Oh will be stepping into the position as CEO. Mr. Joseph Oh comes from CS Wind, where he, among other things, has held the positions of Senior Vice President Market Intelligence and Chief Sales Officer. With a broad leadership and commercial profile, he has been with CS Wind for more than 14 years and has previously worked for GE Plastics and Samsung.
Mr. Oh states: “With Bladt Industries' tradition of quality and decades of manufacturing experience combined with CS Wind’s global experience, our goal is to drive innovation, value creation, and global sustainability – as well as strengthening our products and solutions in the global market. I anticipate integrating our new colleagues into our global operations as we enhance production capabilities in Denmark, actively responding to the increasing global demand for sustainable energy solutions. Together, we'll ensure Bladt's offerings become even more sought-after globally.”
Accompanying him as Co-CEO will be Mr. Henrik Olesen, who brings significant experience from executive positions in several international businesses, including Vestas, Danfoss, Güntner, Scandinavian Brake Systems, Genan and Kompan, with 13 years working abroad in Mexico, Singapore, India, and USA.
The team will set the strategic direction towards global expansion and operational optimization – combining the Danish production traditions with international knowledge and financial strength to support facility upgrades.
Co-CEO Henrik Olesen states: “I am delighted to join Bladt and CS Wind at this exciting and pivotal moment. With the acquisition finalized, we can now focus on integration and shaping a dynamic global team. I look forward to contributing to delivering top-tier products and ensuring timely deliveries for our customers. In the upcoming months, we will intensify our recruitment efforts for our key production sites in Denmark, Lindø and Aalborg, offering compelling job opportunities for skilled professionals to be a part of our innovative journey,” says Henrik Olesen.
Following the successful closing of the acquisition, Mr. Michael Glavind, CEO since April 2023, steps down from his position as the new management takes office. Michael will stay with the company as an advisor until the 31st of December 2023.
With the acquisition, the former board has stepped down, and a new board has been appointed, consisting of Mr. Seong-Gon Gim as Chairman of the Board, Mr. Knud Bjarne Hansen, Mr. Henrik Olesen and Mr. Kyoo Deuk Hwang. The three employee elected board members, Mr. Kristian Kærsgaard, Mrs. Louise Vinter Barslund and Mr. Claus Lund Uhrenholt, will continue in the new board of directors.