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China

China

Sinovel closes international offices

CHINA: Sinovel has axed foreign offices in Canada, Belgium, Italy and the US, only three months after it spun its international division off into a separate entity.

The move was announced on the Shanghai Stock Exchange. Sinovel said the decision had been approved by its board but did not comment further.

The company still has overseas offices in the UK, Spain, Brazil, South Africa, India, Turkey and Australia.

In March, Sinovel turned its international business division into a separate subsidiary as part of a restructure of its operations. The Chinese turbine manufacturer said the international subsidiary would operate independently and assume sole responsibility for financial results.

In its annual results, Sinovel said it had an order pipeline of more than 9GW. However, only 82.5MW was outside China.

Sinovel has had a torrid 12-months, with the departure of two CEOs, financial losses, job cuts and a slide down the installation rankings.

Additionally, The US Department of Justice last week entered the long-running legal battle between AMSC and Sinovel and issued charges of intellectual property theft against the Chinese turbine manufacturer, carrying jail terms of more than 30 years and fines totaling $4.8 billion.

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