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Vestas acquires former generator supplier
1 November 2005
Vestas has acquired the generator manufacturing works in Lübeck of bankrupt company Weier Electric from the insolvency administrator for an undisclosed price on October 1. Vestas will take over about 100 Weier employees and intends to employ more staff, says Reinhold Schmid-Sperber, the lawyer responsible for the insolvency proceedings. "Production at the Lübeck site is to be considerably expanded and the production site is secured for years into the future," he says. Vestas had been Weier Electric's main customer for years. But the company hit economic difficulties "due to strong competitive pressures and the increased price of raw materials" and filed for bankruptcy on July 18. While the Lübeck works is back on a solid footing, the future is still uncertain for the manufacturing works at Weier's headquarters in Eutin, where small motors for wind turbines, special motors for submarines and generators for very small power stations are built. An investor is still sought for this division but production continues "because the order situation is good and rescue measures are already being implemented," says Schmid-Sperber.
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