Germany: Nordex Cancels Plans to Transfer Offshore Activities to Joint Venture

The Nordex group has terminated plans to transfer its entire offshore activities to a joint venture. Nordex was not able to agree with the negotiating partner on a concept for the continuation of the activities in a joint venture. Nordex disclosed its intention to seek an industrial partner for this business in Summer 2011.

In the press conference for 2011 annual accounts, the wind turbine manufacturer gave more specific information and announced that the issue would be resolved in the near-term. Going forward, the goal is to strengthen the development of onshore turbines.

Nordex aims to sell the assets of the offshore business to other interested parties in the short to medium-term. The business unit “Offshore” will be discontinued. The employees of the unit will be assigned to other Nordex business units. The termination of the offshore business will not have any impact on the guidance given for the coming years.

[mappress]

Offshore WIND staff, April 18, 2012; Image: nordex