(Yicai Global) October 19 -- Vesta Wind System, the world's largest manufacturer of wind turbines, has signed up Chinese carbon fiber products maker Guangwei Composites as a global supplier.

The two parties inked a memorandum of understanding for the arrangement, the Weihai-based firm said in a statement, adding that it will also invest in new plants in Mexico.

Under the deal, Guangwei Composites will establish a new factory for producing carbon beam main structures for wind turbine blades to fulfill the needs of the Danish company's local facilities. The wind power equipment developer has committed to providing stable and continuous orders for Guangwei after the completion of the new factory.

Following the global expansion of Vestas, Guangwei will also set up new plants in other places and provide localized products and services, the statement said.