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Italian Wind Technology bought out by Danes
1 August 2000
Italian Wind Technology (IWT) in Taranto is to be wholly owned by Danish Vestas. IWT was established in 1998 as a turbine manufacturing venture owned equally by Vestas and the Finmeccanica owned Wind Energy Systems Taranto (WEST). Vestas is to buy WEST's 50% share. From now on Finmeccanica's intends to concentrate on its core business, which does not include wind, says Vestas' Johannes Poulsen. IWT has full order books for supply of turbines to the Italian market and the deal is expected to add DKK 350 million to Vestas' turnover in 2000.
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