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A Turkish court has declared bankruptcy for one of the two Izmir-based subsidiaries of U.S. wind turbine blade manufacturer TPI Composites, which came under scrutiny last year after more than 1,000 workers went on strike over mass layoffs, formally launching liquidation proceedings for the company’s operations in Türkiye.
Authorities also began procedures to manage TPI Kompozit Kanat Sanayi ve Ticaret A.S.’s assets and protect creditor claims as part of the liquidation process, according to the statement.
TPI Composites, headquartered in Scottsdale, Arizona, filed for voluntary bankruptcy protection in the United States in August 2025 as part of a broader restructuring process that included divesting some of its assets.
At the time, CEO Bill Siwek stated that industry-wide pressures had created financial difficulties despite efforts to stabilize the business, adding that the company aimed to restructure its balance sheet and secure new liquidity to maintain operations and continue investing in wind blade production technologies.
Following the filing, TPI’s Türkiye operations, including both Turkish subsidiaries, were transferred to Dubai-based XCS Composites in September 2025.
After the transaction, the company announced layoffs affecting a total of 2,140 workers at its Izmir facilities, where employees had been on strike since May following the collapse of collective bargaining talks.
In its latest annual report, TPI Composites cited Türkiye’s inflationary environment and monetary policy conditions, alongside pressure on the Turkish lira, as major challenges for exports and key sources of operational pressure at one of its main production hubs since 2012.
Before the divestment, TPI operated wind blade production facilities in Izmir as part of a manufacturing network spanning the U.S., Mexico, Türkiye, and India, with global revenue reaching around $1.3 billion in 2024.
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