Vestas in talks with Mitsubishi Heavy Industries over ‘cooperation’

Posted at September 5, 2012 » By : » Categories : News » Comments Off on Vestas in talks with Mitsubishi Heavy Industries over ‘cooperation’

Troubled Danish wind turbine manufacturer Vestas has confirmed that it is “in dialogue” with Japanese engineering giant Mitsubishi Heavy Industries.

The two are, according to a statement from Vestas, discussing a potential strategic cooperation but no agreement has been finalised as yet.

Earlier this year, the company was linked with Chinese turbine manufacturers Goldwind Science Technology and Sinovel Wind Group after poor financial postings.

In the last two weeks, Vestas warned that it was expecting an even tougher in 2013 than 2012 with forecasted shipments of only 5 GW.

In response, the company is speeding up its planned job cuts of 2335 by making 1100 employees redundant by the end of this month.

Additional cuts will also be made before the end of the year to bring its total head count down to around 19,000.

“The further reduction in the workforce is part of the continued cost saving plans which Vestas has been working on since November 2011,” said CEO Ditlev Engel in a statement. “It is always unfortunate to have to say goodbye to good colleagues in Vestas, but we have said before that 2012 will be tough and 2013 will be even tougher for Vestas, so in order to reach our target of making 2013 profitable, it is unfortunately a necessity.”

The company says that around 55% of the reductions will made in Europe, the Middle East and Africa, with a 25% cut in Asia Pacific and just 20% in the Americas.

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Related stories:
Mitsubishi Electric launches three-year energy efficiency plan (19-Apr)
Chinese turbine manufacturers considering Vestas bid (17-Apr)

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