Nordex discontinues offshore unit

Hamburg, Germany - The Nordex group has terminated plans to transfer its entire offshore activities to a joint venture.

As to own information, Nordex was not able to agree with the negotiating partner on a concept for the continuation of the activities in a joint venture. Nordex disclosed its intention to seek an industrial partner for this business in summer 2011. In the future, Nordex wants to strengthen the development of onshore turbines. The company aims to sell the assets of the offshore business to other interested parties in the short to medium-term. The business unit "Offshore" is supposed to be discontinued. The employees of the unit are expected to be assigned to other Nordex business units. According to the company, the termination of the offshore business will not have any impact on the guidance given for the coming years.

Source: IWR Online, 19 Apr 2012