Gonvarri Steel Industries signed an agreement with Mitsui group to incorporate the Japanese company as a partner specialised in towers and wind flanges manufacturing. As part of this, Mitsui acquires 25% of GRI, a Gonvarri subsidiary that has 10 factories in 6 countries, amounting to EUR 100M.
The entry of Mitsui as an industrial partner will allow the company to enter new markets. It will facilitate contact with large client of Mitsui, who is expected to generate synergies thanks to its wide presence throughout the offshore/onshore wind-generation supply chain and in other sectors where GRI is not yet present. According to Javier Imaz, CEO of GRI: “The incorporation of Mitsui to GRI’s industrial project will allow us to accelerate and consolidate our internationalisation process and to enter new energy-related sectors.”
