Renewable firm defying downturn

Posted on 10 Nov 2008 by The Manufacturer

Danish wind-turbine maker Vestas, which has a production facility on the Isle of Wight, has forecast a 25 per cent rise in sales next year as the world turns toward renewable energy.

Profits from quarter three were €160m compared with €102m in the three months before. The downturn-defying Danes said they predict sales to rise to €7.2 billion next year from €5.7 billion in 2008. The company said it will still exercise an air of caution in these times of economic turbulence and, after adding 5,000 staff…

This content is for subscribers only. Subscribe now for free to read the full article.