Wind turbine maker Vestas ramps up investments
COPENHAGEN (AFP) - The world's biggest wind turbine maker Vestas posted on Wednesday a first quarter loss of 82 million euros (108 million dollars), but said it would hire almost three times more people than planned.
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The Danish group's earnings were sharply below analysts' expectations of a 14-million-euro profit, and down from 56 million euros in profits posted a year ago.
However, the group said it would be ramping up investment and staff, "based on the order intake and market momentum."
"Vestas now expects to recruit 3,400 employees, net, in 2010 against 1,300 as previously expected," said the group.
It added that it would invest in a service and maintenance centre in Colorado, as well as buy more property, plant and equipment.
The group on Monday announced the biggest single order it had ever received to supply wind turbines capable of delivering 1,500 megawatts to Portugal's EDP Renovaveis.
It added four orders from a Chinese independent power producer to its books on Tuesday for turbines generating up to 198 megawatts.
Last Updated (Wednesday, 28 April 2010 16:42)
