German-Danish Nordex to go public by September

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German engineering giant Babcock Borsig has officially announced it is planning to float turbine manufacturer Nordex, part of its Borsig Energy division, possibly in the current business year, which closes September 30. The news has long been rumoured in the wind industry (Windpower Monthly, October 2000). According to Babcock Borsig chairman Klaus Lederer, the decision to go public with Nordex depends partly on whether Babcock Borsig decides to pay a dividend to shareholders for the year 1999/2000. This would be the first since 1993/94. Turnover of the Nordex Group was DEM 545 million in 1999/2000.

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