Vestas in Talks With Mitsubishi on Strategic Pact

Vestas Wind Systems A/S said Tuesday that it is in talks with Japanese industrial conglomerate Mitsubishi Heavy Industries Ltd. about a strategic tie-up that could secure the long-term future of the financially troubled Danish wind-turbine maker.

Vestas, the world's largest manufacturer of wind turbines, has been struggling with steep losses and a tight financial situation, prompting speculation in the market of a company sale or a dilutive issuance of new shares.

The shares jumped 19% Tuesday after news of the Mitsubishi talks, with analysts saying that the project could help the company navigate its way back to profitability.

"No matter what the deal contains, it will surely include an injection of capital to Vestas," Alm. Brand Markets analyst Michael Friis Joergensen said.

Vestas fell deep in the red in 2011, when massive overcapacity, excessive costs and budget overruns in the development of a new turbine forced it to issue two profit warnings, helping send the share price lower.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Lithium Ion Battery based Power Systems for Mobile Energy

Lithium Ion Battery based Power Systems for Mobile Energy


Get an efficient power supply system based on lithium technology and receive 12V/24V and 230V/50Hz simultaneously.

The Clayton Power lithium battery system can be charged from the mains via a G3 Combi - inverter/charger, an alternator while driving or from other power sources.

Our lithium ion batteries can be connected in parallel to achieve scalable power capacity and output. Connect more inverters or inverter/chargers to get a greater 230V output and even faster charging times.

Combined Inverter/Chargers
The G3 Combi - Inverter/Charger series, is a combined 230V power supply and intelligent multi charger in one compact unit.

Lithium Ion Batteries
Built-in Battery Management System. 12V and 24V - 100Ah. Scalable up to 2000Ah.

+ Powerful + Low weight + Long lifetime + Fast charging


Clayton Power | Lithium Battery Systems for Mobile, Off-Grid and Storage Solutions