US Edition
Wind Blade Maker TPI Composites Files for Bankruptcy in Texas
6 Articles
6 Articles
Ciudad Juárez.- TPI Composites, a company based in Scottsdale, Arizona, announced in a press release that, together with its subsidiaries, began a legal process to adhere to the Bankruptcy Act in a Texas court. The company, has maquiladora operations in Ciudad Juárez, at a plant that manufactures the blades for wind power generators. According to the statement, the operations of its subsidiaries and subsidiaries will continue normally, as long a…
TPI Files for Chapter 11 Amid Crushing Debt - USA Herald
In a dramatic turn for the renewable energy sector, TPI Composites Inc., the Arizona-based wind turbine blade manufacturer, has filed for Chapter 11 protection in Texas bankruptcy court, citing overwhelming debt and unrelenting industry pressures. The company reported liabilities between $1 billion and $10 billion, including $600 million in funded debt, and plans to cede ownership to its senior lenders. According to a first-day declaration from …
Windtech International - TPI Composites starts voluntary chapter 11 process
TPI Composites has filed for voluntary chapter 11 proceedings in the US Bankruptcy Court for the Southern District of Texas to undertake a financial restructuring. The process aims to reduce debt and secure new liquidity while maintaining normal operations.
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