Genmar boss expands into wind-turbine blades

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VEC Technology chairman Irwin Jacobs plans to manufacture wind-turbine blades with the same high-tech fiberglass technology that he uses to build boats.

Within the next three years, Jacobs said, he intends to open three to five factories in the United States to manufacture blades that will generate $450 million to $750 million a year in revenue, according to an article in the Minneapolis Star Tribune newspaper.

Jacobs will travel to Europe this week to meet with potential investors, and is looking at national and international arenas to market an array of fiberglass products he wants to build through VEC Technology, a Pennsylvania-based company of which he is chairman.

Jacobs' Genmar Holdings filed for Chapter 11 bankruptcy protection June 1. VEC Technology, he has said, is not in Chapter 11.

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