Vestas boss dumped after losses

Wind turbine maker Vestas Wind Systems has dumped its chief executive after weeks of rumours following a series of company losses. Vestas saw a net loss of €62million (£53m) between April and June 2013, €54m (£46m) more of a loss than the same period in the previous year. After eight years with the group the […]

Shadow falls over 1,400 Vestas jobs

Vestas says it’s chopping 1,400 jobs by the end of the year. The company says it has had to do this to cut costs, as it tries to save €250million (£197m) by the end of 2012,  €100million (£79m) more than it originally planned. The Danish wind turbine manufacturer today acknowledged a tough 2012 could get […]

Vestas plans 2,335 redundancies

Danish wind turbine maker Vestas plans to slash 2,335 jobs in a bid to cut by €150million by the end of 2012. Vestas blamed the redundancies on the “economic downturn”. A further 1600 jobs in America could be cut if the firm’s US production tax credit isn’t extended. The news comes days after Vestas announced […]

Vestas shares drop over delays to new factory

Shares in wind turbine manufacturer Vestas dropped by more than 20% this morning on the Copenhagen stock exchange as the company were forced to announce huge profit losses as a result of delays to the construction of a new factory. The company have reduced their 2011 profit estimations from €7bn to around €6.4bn. The company […]

Vestas need orders to start Kent construction

Wind power manufacturers Vestas has said the construction of a turbine manufacturing plant in Kent will only go ahead if it gets enough orders. Speaking to BusinessGreen, Chief Executive Ditlev Engel said: “We have the manufacturing site ready as long as we get the orders to go ahead and manufacture them.” Vestas say that should […]