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Finland

Moventas completes restructuring

FINLAND: Wind turbine gearbox manufacturer Moventas has said it had completed a restructuring programme, separating the wind and industrial gear divisions.

Moventas' service workshop in Jyvaskyla, Finland
Moventas' service workshop in Jyvaskyla, Finland

Moventas and Santasalo, the industrial gear unit, are now separate businesses. Group CEO Arto Lahtela said the move would allow each unit to focus on their respective industries. The companies have been operating independently since September 2013.

The restructuring programme started after Moventas fell into administration in 2011. It is designed to stablise the business in a bid to recover from the administration. 

The group's manufacturing base and headquarters will remain in Finland and staff numbers are unaffected. Lahtela said, "We are now purely focused on the wind industry."

Last September, Moventas opened service units in Italy and the US to cope with growing demand in gearbox servicing.

Moventas runs service entities in Finland, Germany, UK, Spain, Italy, Canada, Australia and several locations in the US. It currently employs 450 people globally, 328 of which are in Finland.

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