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Nordex Terminates Offshore Transfer Plans To A Joint Venture

4/18/2012 10:53 AM ET

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.

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by RTT Staff Writer

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