04:49 PM EDT, 06/17/2024 (MT Newswires) -- TPI Composites ( TPIC ) said Monday it has agreed to sell its automotive business to Clear Creek Investments to focus on its core business of making wind blades for the wind energy market.

Financial terms of the deal weren't disclosed.

TPI said it expects the divestiture to improve monthly cash flow by about $1.7 million over the balance of 2024.

The transaction is expected to close at the end of this month, the company said.

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