Germany

Nordex announces rotor blade manufacture on back of recapitalisation

1 April 2005

Recapitalisation of Nordex is going ahead as planned despite a slight wobble when two minor shareholders lodged objections at February's annual general meeting. New owners of the turbine company are an investor group led by private equity company Capital Management Partners and Goldmann Sachs, with 52% of the shares (Windpower Monthly, February 2005). Confident of its economic recovery, Nordex says it will start in-house rotor blade production for its 2.3 MW turbine based on a new design and no longer rely on LM Glasfiber. "We want to reduce this dependency to improve our earnings situation and to set us more clearly apart from the competition," says Nordex's Thomas Richterich.

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