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- Category: Company News
On 28 April 2005, LM Glasfiber Holding A/S held its AGM, at which the annual report for 2004 was approved. In the financial year 2004, the company generated revenue of DKK 2.260 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of DKK 520 million, representing an increase of 21 and 51% respectively on 2003. The company’s operating activities generated a cash inflow of DKK 295 million in 2004 compared with an inflow of DKK 111 million in 2003.
- Category: Company News
The report released by Nordex AG for the stub fiscal year 2004 (1 October to 31 December 2004) largely corresponds to the preliminary figures on the financial statements announced by the Group at its annual general meeting in February 2005. The positive news was a surge in new business by 11%, to € 62 million (previous year: € 55.5 million), especially the share generated abroad, which grew to reach 70% (previous year: 32%). In contrast, sales revenues were down by 11%, to € 59 million (previous year: € 66.7 million). The company cites the difficult financial situation as the primary reason for this. In the period under review the company did not have sufficient funding to cover all current projects. Because of the low capacity utilisation, Nordex did not manage to fully cover its costs, even though substantial cost reductions were achieved thanks to the restructuring of the company's operations.
- Category: Company News
Novera Energy Ltd has formed a joint venture with Scottish firm Renewable Energy Development Group Ltd (RED) to co-develop wind energy sites in Scotland and northern England. Novera chairman Don Stammer said most of the sites have already secured binding land option agreements, making them a valuable development portfolio for the company. He said the joint venture’s initial development portfolio has the potential to deliver more than 200MW of new wind power capacity over the next three to four years. At the successful completion of each project, the site may be offered for sale to Novera Macquarie Renewable Energy (NMRE), the 50:50 joint venture established by Novera Energy and Macquarie Bank in December 2004. Securing the sites enhances Novera’s growing project development portfolio, creating a sizeable number of wind projects in the pipeline in the UK. Shares in the renewable energy company jumped US$ 3.5 cents or 12.5% to US$ 31.5 cents.
- Category: Company News
Nordex is bringing blade production for one of their top wind turbines in-house. After the completion of intensive testing, the company is beginning the internal production of rotor blades (NR 45) for its N90 2.3MW turbine. Nordex has developed a new blade design, where the load-bearing structure is separate from the aerodynamic cover to optimise the blade properties. This differential construction method is also used in the aircraft industry. The main advantage is the low weight of the blade, something that has a positive effect on operating loads and thus the availability of the system as a whole. The vacuum injection method tested with smaller components over the past two years is now being used for all components of the NR 45. This method involves placing the glass fibre in a vacuum so that the structures can absorb the resin. In addition, Nordex is employing a new coating method that has proved to be highly weather-resistant in practice. For this purpose, only polyurethane is used as a basis.
- Category: Company News
ESAB Welding and Cutting Products has been selected by Aerisyn LLC to supply all the cutting, assembly, welding and material handling equipment for North America’s first automated wind tower production facility. Aerisyn, a Wisconsin based alternative energy company, is currently modifying an existing manufacturing plant in Chattanooga, Tennessee. The plant is expected to be in full production by August 2005. ESAB was instrumental in assisting with the plant layout and material flow design. This will be the first installation in North America of the ESAB automated assembly. This massive system includes head and tailstock clamping fixtures, with a powerful hydraulic fit-up jig.- Category: Company News
Siemens is expanding its business in industrial drive technology by acquiring Flender Holding GmbH, Germany. The deal was closed by Siemens and the seller, Citigroup Venture Capital (CVC) Equity Partners, London. The purchase price amounts to € 1.2 billion. The transaction is subject to the approval by the responsible anti-trust authorities. The activities of Flender Holding GmbH are to be integrated into the Siemens Automation and Drives Group (A&D) as its eleventh division.
- Changes in the Management Board of REpower Systems AG
- Crompton Greaves Ltd and Pauwels join forces
- Subscription ratio required for Nordex AG recapitalisation achieved
- LM Glasfiber adjusting production capacity
- Gleitz named to head GE Energy’s wind segment
- Recapitalisation approved by Nordex AG’s shareholders
- Research grant for wind turbine manufacturer
- LM Glasfiber announces financial results for 2004
- Launch of Econnect Construction
- Zephyros BV declared bankrupt
- New staff appointed at MacArtney
- NRG holds grand opening for new building
- Wind Prospect’s megawatt record
- DeWind back in business
- REpower revises earnings forecast for 2004
- Change in the board of management of Vestas Wind Systems A/S
- Nordex’s 2003/04 financial statements on target
- New president and CEO of NRG Systems
