Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Nordex AG and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State. After showing a notable move to the upside at the open, stocks remain mostly positive in early trading on Friday. The major averages have not seen much follow-though on their initial upward move but remain above the unchanged line. While the Conference Board released a report on Friday showing a continued increase by its index of leading U.S. economic indicators in the month of August, the pace of growth showed a significant slowdown compared to the previous month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.