[Click eStock] "Specco, From Asphalt Plants to Wind Towers"

[Asia Economy Reporter Hyungsoo Park] Hana Financial Investment stated on the 25th that Specco is transforming from a plant company into a wind power company and expects its performance to improve this year. No investment opinion or target price was separately presented.

Specco is an asphalt plant manufacturer. It supplies to domestic and international construction sites. Based on its asphalt plant business, it is expanding its business into various fields such as concrete plants, defense facilities, and wind towers. Its Mexican subsidiary manufactures wind towers and supplies them to global wind power companies such as Siemens, Gamesa, and Vestas.

Lee Jung-ki, a researcher at Hana Financial Investment, explained, "As of 2018, Mexico's wind energy production capacity was 4,051 MW, ranking 12th worldwide," and added, "It recorded an average annual growth rate of 44% from 2008 to 2017."

He continued, "According to the Mexican Wind Energy Association (AMDEE), Mexico plans to expand its wind energy production capacity to 22,300 MW by 2031," and "investment plans focus on new investments from 2019 to 2023."

The researcher emphasized, "Specco's Mexican subsidiary sales also show a high correlation with Mexico's wind energy investment plans," and "high growth in the wind tower sector is expected until 2023."

This content was produced with the assistance of AI translation services.