Combilift eyes €50m revenue as it pivots to offshore wind sector

Irish forklift manufacturer Combilift said it expects to generate more than €50 million in revenue per year in the offshore wind sector by 2026 after it launched a new product targeted at large-scale manufacturers in the green economy.

The group, which is based in Co Monaghan, said it had spent more than two years developing its new product, which is called the Combilift load carrier. It said the product allows for the movement of wind turbine blades and towers with two vehicles working in tandem, communicating and operating simultaneously to secure the load at both ends, before moving it.

Siemens Gamesa, one of the world’s largest offshore wind suppliers, has become the first company to leverage the new technology by signing a multimillion-euro order for a number of the machines.

Michael Woods, head of offshore equipment operations at Siemens Gamesa, said: “After initial demonstrations at the Combilift facility, we are very excited with the engineering capabilities of this larger capacity, 12-wheel blade carrier and can’t wait to get it into operation at our Hull facility.”

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Combilift said it is speaking to other offshore wind companies with similar demands.

Josh Moffett, heavy equipment manager at Combilift, said the product “will act as a gateway for us to further progress within our venture into the wind energy sector”.

Enterprise Ireland chief executive Leo Clancy described Combilift as “a trailblazer of innovation and a model for exporting companies with an ambition to lead their industry and grow”.

“Combilift is a huge player on the global stage and offers the most extensive range of specialist multidirectional and customised handling solutions available from any manufacturer in the world, as well as being a major employer for jobs locally in Monaghan,” he added.

Combilift managing director Martin McVicar said the group invests 7 per cent of its annual revenue in research and development. The company employs more than 800 people in Monaghan and 200 in other locations across the world.

Separately, Combilift has announced plans to establish a network of sales support agents across Asia to support customers and attract new clients. The move comes a year after it said it expected to double its Asian turnover to €25 million by 2025, and that it was expanding its business in the region from existing bases in India and China to emerging markets in Vietnam and Thailand.