SIAG Schaaf Industrie AG Acquires Aerisyn L.L.C in the USA Capacity of 250 Towers

SIAG Schaaf Industrie Aktiengesellschaft with its headquarters in Dernbach/WW has taken over an existing tubular-steel plant by "signing and closing". The plant is located in Chattanooga, Tennessee, USA and produces wind turbine towers for the North-American market from now on.

Production at full capacity is almost 100 segments or 250 towers; this full capacity shall be reached by the middle of 2011. The company will employ approximately 240 employees at the location Chattanooga and will therefore provide new jobs.

At the initial stage, SIAG has taken over 70% of the SIAG Aerisyn LLC., through SIAG North American Holdings, Inc., with its location in Dover, Delaware. A full takeover of the remaining 30% 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, on which Volkswagen is also building a new production location, we are also planning to construct a further production facility in the Midwest of the USA. The necessary discussions will be directly held from Chattanooga. We have taken this step to serve the German and European plant manufacturers with the same quality and delivery liability within the North-American market as they used to receive from Europe. As a supplier it is our aim to follow our costumers to the growing markets of wind energy," commented by the CEO Mr. Rudiger Schaaf.

Within one year SIAG Schaaf Industrie AG is now also represented in America besides the construction of the production facility in Egypt and will increase its total capacity by 600 tubular towers. That finally means a total capacity of 1600 tubular towers in 2010. Notwithstanding the financial crisis the 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.

The official Announcement will be on Monday, August 24th, by Rudiger Schaaf, Chairman of SIAG Aerisyn L.L.C..

General information of SIAG Schaaf Industrie AG

SIAG Schaaf Industrie AG has developed itself from a classic steel constructor to a leading supplier in the wind energy branch with plants in Germany, the Czech Republic, France, Egypt and the USA. SIAG's target is to expand with its customers throughout the world and to offer best quality and delivery liability with a planned turnover of 215 million Euro in 2009 and more than 1,200 employees.