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State owned company buys stake in Finland's only wind turbine manufacturer
1 January 2005
A state owned industrial development company in Helsinki has acquired a 10% stake in WinWind Oy, Finland's only wind turbine maker. Finnish Industry Investment Oy (FII) bought the stake from Proventia Group Oy, the majority shareholder, with 55% of the company. FII has agreed to contribute capital as and when WinWind needs it. Other local companies hold minority stakes. "What this delivers is a strong financial backer willing and able to support Win wind's growth," says Proventia's Lassi Noponen. FII's Juha Marjosola describes WinWind as "one of the more exciting investment opportunities we have targeted in recent years."
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