logo
Share SHARE
FONT-SIZE Plus   Neg

Nordex Terminates Offshore Transfer Plans To A Joint Venture

Turbine manufacturer Nordex SE (NRDXF.PK) said Wednesday it has terminated plans to transfer its entire offshore activities to a joint venture, as it was not able to agree with the negotiating partner on a concept for the continuation of the activities in a joint venture. Earlier, in Summer 2011, Nordex had disclosed its intention to seek an industrial partner for this business.

With the objective of strengthening the development of onshore turbines, Nordex said, it plans to sell the assets of the offshore business in the short to medium-term. As a result, Nordex's offshore business unit will be discontinued, with employees of the unit being assigned to other business units. The termination of the offshore business will not have any impact on the guidance given for the coming years, the group noted.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Anglo-Dutch oil giant Royal Dutch Shell plans to cut 2,200 more jobs, as the company continues to face lower oil prices, media reported Wednesday citing an emailed statement. The latest round of cuts would bring the total job cuts this year to at least 5,000 globally. In the U.K. and Ireland, the company plans to reduce staff working in exploration and production by 475. Tiffany & Co. (TIF) reported first-quarter net earnings of $87 million, or $0.69 per share compared to $105 million, or $0.81 per share, in the prior year. The company noted that its first-quarter results included a tax benefit of $0.05 per share related to the settlement of a tax examination. On average,... Shares of Marks & Spencer Group plc were losing around 8 percent in the early morning trading in London, after the retailer reported lower profit in its fiscal 2016, hurt mainly by weak results at clothing & Home segment and lower UK LFL sales. Looking ahead, the company warned about profit, and said it sees a similar sales trend in fiscal 2017.
comments powered by Disqus
Follow RTT