In May, the government awarded DKK 634 million in green support to four companies. While Siemens Gamesa, Niebuhr Gears and Advanced Surface Plating were announced immediately, the name of the last recipient was kept secret. Now it has emerged that the support went to SM Industries. This is reported by Børsen.
SM Industries, which produces towers for wind turbines and steel components for the oil and gas industry, among others, has received DKK 45 million in government support. The funds have been allocated for the Njord Assembly Lines project, which will be established in Rødekro and, according to the project description, will “accommodate new contracts from players in the wind turbine industry”.
Previously, SM Industries was in American hands and known under the name Valmont SM, but in 2022 the company was acquired by the steel wholesaler Euro Steel, which is owned by Michael and Morten K. Larsen. The company’s financial situation has been challenged in recent years with a total loss of 180 million. DKK over the last five years.
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