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

Editors Pick
German consumer climate is set to improve slightly in November, ending the downward trend, as income expectations among households strengthened on the back of the strong labor market situation, survey data revealed Friday.The forward-looking consumer confidence index rose slightly to 8.5 in November from 8.4 in October. Software giant Microsoft Corp. said Thursday after the markets closed that its first quarter profit fell 13% from last year, hurt mainly by integration and restructuring costs even as revenue surged 25% thanks to strong sales of its gadgets and cloud-based products. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. After turning lower over the course of the previous session, stocks showed a substantial move back to the upside during trading on Thursday. The gains more than offset yesterday's loss, extending the recovery from the recent sell-off.
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.