Tags: Denmark | Vestas | Mitsubishi | wind

Denmark's Vestas in Talks with Japan's Mitsubishi

Tuesday, 28 Aug 2012 02:10 PM

Vestas Wind Systems A/S, the world's biggest maker of wind turbines, says it is in talk with Japan's Mitsubishi Heavy Industries over possible "strategic cooperation."

The Denmark-based group didn't disclose details Tuesday but said an announcement will be made if the two companies reach agreement.

Vestas shares jumped more than 13 percent after the announcement, to 38.61 kroner ($6.49) in early Copenhagen trading.

Vestas said last week it will slash 1,400 jobs to reduce costs amid stiff competition and a market slowdown. Those come in addition to 2,335 worldwide layoffs announced worldwide in January. It currently has 20,400 employees.

Vestas reported a second-quarter net loss of €8 million, down from a profit of €55 million in the same period last year.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
121
2012-10-28
Tuesday, 28 Aug 2012 02:10 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved