Nordex has increased its sales projection for 2006 from EUR 460 million to EUR 500 million and expects growth of 50% in each of the next two years along with improved profitability. Its order backlog has doubled to EUR 412 million in mid 2006, compared with EUR 212 million in mid 2005. Including EUR 470 million in conditional orders, Nordex's order book is larger than Repower's at EUR 725.1 million of unconditional and conditional orders in mid 2006.
Nordex has long been a target for takeover speculation, but its current high market value of EUR 800 million has silenced the talk. "At the moment a strategic investor is not necessary since current owner Goldman Sachs is providing support in operative business," says the company's Ralf Peters. "Nordex has enough resources to expand."
Most recently it entered into a EUR 20 million joint venture turbine blade production works in Dongying in eastern China. The plant will make blades for 1.5 MW turbines and output in 2007 is expected to reach 225 blades for 75 turbines or 110 MW. The site allows for expansion to an annual 400 MW. In the spring Nordex began construction of assembly facilities in China for 1.5 MW turbines in the province of Ningxia in partnership with two regional utilities, Ningxia Electric Power Group and Ningxia Tianjing Electric Energy Development Group. It is preparing similar partnerships in other provinces, all of which will source their blades from Dongying.