TPI Composites sells Turkish wind blade facilities to XCS Composites, removes majority of EMEA segment

TPI COMPOSITES, INC

Sale closed Sept 10, 2025 after U.S. Bankruptcy Court approval; 2,700 Turkish employees transferred.
Transaction includes two Izmir wind blade plants and field service business; buyer assumed all liabilities.
Pro forma H1 2025 net sales drop from $612M to $478M; net loss from continuing ops improves to -$109.9M.
FY2024 pro forma net loss from continuing ops worsens to -$229.9M, removing TPI Türkiye's $19.8M net income.
Preliminary non-cash gain on sale recorded; company remains a debtor-in-possession in Chapter 11.

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