Goldwind suspends shares (updated 29 August)

CHINA: Goldwind has suspended trading in its shares due to the impending announcement of a "major event".

Goldwind is planning to manufacture its turbines in Russia
Goldwind is planning to manufacture its turbines in Russia

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However, insiders believe between this is unlikely to be connected to any move into Russia. Earlier this week, Windpower Monthly revealed the Chinese manufacturer is planning a move into the Russian wind market.

The company said it has withdrawn the sale of its shares from the Hong Kong Stock Exchange and the Shenzhen Stock Exchange "due to uncertainties involved, in order to ensure fair information disclosure, protect investors’ interests, and avoid material impact on the company’s share prices".

It added that trading will be resumed "after the relevant announcement is released".

Goldwind senior project-manager Chrissy Key said that the company is seeking to establish turbine and blade manufacturing facilities in Russia. It is believed the company plans to start construction in spring of 2015.

However, while a Goldwind company spokesman in China confirmed to Windpower Monthly that the company is actively looking at Russia, he said it is still working on a timetable.

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