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

Editors Pick
Retailers could see record web traffic this year as more consumers then ever before plan to shop online, according to Deloitte's 31st annual holiday survey of consumer spending intentions and trends. The survey found that holiday shoppers this year plan to spend just as much as online as they spend in brick and mortar stores. Oil giant Chevron Corp. on Friday reported a 37 percent decline in profit for the third quarter from last year, reflecting lower oil prices and weak refining margins. However, both revenue and earnings per share for the quarter beat analysts' estimates. In addition, the company raised its quarterly dividend. Mastercard Inc. (MA) reported a profit for the third quarter of 2016 that increased about 21 percent from the year-ago period, while it was up 15% excluding a special item related to the termination of the U.S. employee pension plan taken in last year's third quarter. Both earnings per share and revenue for the quarter beat analysts' expectations.
comments powered by Disqus
Follow RTT