Moventas has cleared the corporate restructuring programme it entered in 2011. The Santasalo Moventas Group has simultaneously been divided in two, where Moventas and the industrial gear manufacturer Santasalo will both be better equipped to focus on their industry-specific businesses.
Moventas Gears Oy, owned by the industrial group Clyde Blowers, has completed the corporate restructuring programme that it entered in 2011. In connection with finalizing the restructuring programme, the company’s restructuring debt has been paid, and the Santasalo business has been established as its own company.
The two businesses have operated as separate entities for almost a year. The operative split of the Group has enabled Moventas to fulfil its clienteles’ needs globally even better than before. Now, the restructuring debt free Moventas business continues as its own company in the growing wind energy industry. Coming out of the restructuring programme and the legal company split further support Moventas’ strongly growing business.
“We are now purely focused on the wind industry, making no compromises on strategy and resource allocation. This enables focus on technology leadership and gives us even more flexibility to support our customers on all main markets,” comments Moventas CEO Arto Lahtela .
The division has no personnel impacts, and Moventas’ ownership will remain the same. This arrangement also has no operative impacts to e.g. facilities. Moventas’ main factories are located in Jyväskylä, Finland and it runs service entities in Finland, Germany, UK, Spain, Italy, Canada, Australia and several locations in USA.
Moventas currently employs 450 people globally, 328 of which in Finland.
Press release; Image: Moventas