Vestas To Cease Production At Factories In Lauchhammer Viveiro, And Esbjerg - Quick Facts

Vestas (VWDRY.PK) announced steps to adjust its manufacturing footprint in Germany, Spain, and Denmark. As part of this, the company plans to cease production at its factories in Lauchhammer, Germany; Viveiro, Spain and Esbjerg, Denmark.

Vestas noted that the total cost of this adjustment of the company's manufacturing onshore and offshore footprint will depend on specifics related to the outcome of negotiations with work councils, sale of buildings and etc. The total cost will be booked as special items, and will be recognised in the third quarter of 2021.

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