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Finland

Finland

Moventas merges wind and industrial divisions

FINLAND: Gearbox manufacturer Moventas is to merge its wind and industrial divisions as part of a restructure of its Finnish operations.

Until now Moventas has consisted of Moventas Wind and Moventas Santasalo, with the latter servicing the mining industry. The combined company will be called Moventas Gears.

Moventas is also centralising its operations within its home market. The merger takes effect on 31 August.

In November, the company was acquired by UK private equity company Clyde Blowers for €100 million. The deal followed an uncertain period for Moventas following the decision in June 2011 to put itself up for corporate restructuring. It cited issues with overcapacity and cash-flow problems.

Speaking to Windpower Monthly shortly after the acquisition, Gavin McCallum, investment director at Clyde Blowers warned there would be a restructure and cutbacks to Moventas' operations in Finland.

McCallum also said it could be looking to expand in the US, where Moventas has an assembly plant in Portland, Oregon.

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