Is TPI in Newton closing?
NEWTON, Iowa — Jasper County’s largest employer will soon be down to about 50 employees. TPI Composites in Newton is ending wind turbine manufacturing Friday. The announcement was made in October. About 700 people are losing their jobs.
Why is TPI in Newton closing?
“There’s a lot stronger commuting flows now between Newton and the Des Moines area.” TPI Composites had been contracted to make blades for General Electric. But GE is not planning to buy blades from TPI for its wind turbines next year. That change is what is causing the plant to shut down.
Who owns TPI?
Family-owned since 1950 To say the company has done well is an understatement. There are only around 500 family-owned corporations the size of TPI left in America today, says Kay Hale, co-owner and daughter of Bob Henry.
How long has TPI been in Newton Iowa?
TPI has been a key employer for the city of 15,800 since it opened its factory in 2008, a year after the city’s longtime top employer, Maytag, was purchased by Whirlpool and shut down its Newton headquarters and factories.
Who owns TPI Composites?
Top 10 Owners of TPI Composites Inc
| Stockholder | Stake | Total value ($) |
|---|---|---|
| The Vanguard Group, Inc. | 4.58% | 23,091,457 |
| Invesco Capital Management LLC | 4.42% | 22,278,188 |
| SSgA Funds Management, Inc. | 4.02% | 20,277,458 |
| Schroder Investment Management Lt… | 3.00% | 15,093,282 |
Is TPI Composites a good investment?
Valuation metrics show that TPI Composites, Inc. may be overvalued. Its Value Score of D indicates it would be a bad pick for value investors. The financial health and growth prospects of TPIC, demonstrate its potential to underperform the market.
What county is Newton Iowa?
Jasper CountyNewton / County
Who are TPI Composites customers?
Major customers include General Electric Wind, Vestas, Nordex, Siemens Gamesa, and ENERCON.
Why is TPI Composites dropping?
Although TPI Composites sees the wind energy market strengthening in the future as federal spending on clean energy projects rolls out under the Biden administration, and as nations across the world strive to decarbonize, investors dumped the stock in the absence of any visibility into the company’s earnings growth in …
Is TPI a buy?
TPI Composites has received a consensus rating of Hold. The company’s average rating score is 2.29, and is based on 3 buy ratings, 9 hold ratings, and 1 sell rating.
Is Newton Iowa a good place to live?
Newton Reviews I have been a resident Of Newton my whole life and have found it to be a very nice town to live and work in. After the Maytag Corporation left many families left or fell on hard times, but through the determination of our community we have overcome our challenges and are now better than ever.
What is Newton Iowa famous for?
Newton became known as Washing Machine Capital of the World and was home to a Fortune “500” Company – the Maytag Corporation. The community’s most distinctive landmark, the Jasper County Courthouse, was built in 1911.