Sinovel Wind Group Co. has confirmed that it is closing 4 international subsidiaries.
In a filing with the Shanghai Stock Exchange, Sinovel said it would shut its subsidiaries in the USA, Belgium, Italy and Canada. Spokeswoman Wang Wen said that the decision is unrelated to Sinovel's indictment on charges including theft of trade secrets in the U.S. She said the company in April started the process of closing units that it said didn't meet its expectations for development strategy or potential.
