Martifer in U.S. wind power joint venture

LISBON, June 19 (Reuters) - Portuguese conglomerate Martifer (MARTI.LS) said on Friday it formed a joint venture to produce steel towers for wind power turbines in the United States with a unit of Texas-based Hirschfeld Industries.

Martifer said in a statement the initial planned investment in a plant in Texas that will make towers for wind turbines was of $40 million, to be concluded in the second quarter of 2010. The two companies will own equal parts in the venture.

"Ultimately, the factory is expected to reach a capacity of 400 towers a year by 2013," Martifer said. The equipment is for the North American market.

"This will allow us to fully benefit from the strong development of the wind power sector we are witnessing the US right now," the statement quoted Marifer CEO Antonio Pontes as saying.

Martifer stocks jumped 6.7 percent in late trading on Friday to 3.52 euros, recovering after a three-session slump. The broader market in Lisbon was 1.7 percent higher. (Reporting by Andrei Khalip; Editing by David Jones)