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Vestas Wind Systems A/S (VWDRY.PK)

VWDRY.PK on OTC Markets Group

27 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Vestas splits Asia-Pacific and China sales unit in two
Wednesday, 22 Feb 2017 05:16am EST 

Vestas Wind Systems A/S : Vestas introduces two new sales business units (SBU) for Asia-Pacific and China . The two SBUs will be called SBU CHI, covering China and Mongolia, and SBU ASP, covering all other Asia-Pacific countries, including India . With the decision to split into two new units, President and Group Senior Vice President Chris Beaufait has chosen to leave Vestas to pursue new opportunities outside of the company . "We are investing more resources in the region and creating a more agile and customer centric organisation. The aim is to achieve a deeper market understanding and ultimately increase our market share," says Executive Vice President and Chief Sales Officer Juan Araluce . Kebao Yang, who most recently was chairman and general manager of Caterpillar (Qingzhou), will head SBU CHI, while the appointed head of SBU ASP will join Vestas during April 2017 and be disclosed at a later point Further company coverage: [VWS.CO] (Reporting by Stine Jacobsen, editing by Teis Jensen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Vestas Q4 order intake stronger than expected
Wednesday, 8 Feb 2017 02:43am EST 

Vestas : Q4 order intake 4,532 MW versus 3,983 MW forecast in Reuters poll. . Q4 revenue 3,313 million euros ($3.53 billion) versus 3,373 million euros forecast in Reuters poll. . Q4 EBIT before special items 504 million euros versus 504 million forecast in Reuters poll. . For 2017 Vestas expects revenue to range between 9.25 billion euros and 10.25 billion euros. . Expects to achieve a 2017 EBIT margin before special items of 12-14 percent with service EBIT margin remaining stable. . Total 2017 investments are expected to amount to around 350 million euros. .Board of directors recommends to annual general meeting that a dividend of 9.71 Danish crowns per share, compared with 6.82 crowns last year..  Full Article

Vestas CEO has no indication of any change to tax credit for U.S. wind industry
Tuesday, 7 Feb 2017 10:44pm EST 

Vestas : CEO Anders Runevad said on a conference call he sees no indication of any changes to the U.S. Production Tax Credit (PTC) programme following the new presidential administration. Further company coverage: [VWS.CO] (Reporting by Jacob Gronholt-Pedersen) ((jacob.pedersen@thomsonreuters.com;)).  Full Article

Vestas to sell and lease back Aarhus headquarters buildings
Tuesday, 7 Feb 2017 02:12pm EST 

Vestas Wind Systems : Says to sell and lease back its headquarters buildings in Aarhus in western Denmark . Says Solstra Capital Partners A/S and Sampension will buy the two headquarters buildings with Vestas leasing back one of the building in its entirety and parts of the other building . Says the sale and leaseback arrangement reflects the company's strategy of managing its real estate holdings flexibly and efficiently Further company coverage: [VWS.CO] (Reporting by Teis Jensen) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 55;)).  Full Article

Southern Company unit announces strategic wind development agreement
Friday, 30 Dec 2016 10:00am EST 

Southern Co : Southern Company subsidiary announces strategic wind development agreement . Southern Co - Southern Power announced joint development agreement with Renewable Energy Systems Americas Inc to develop about 3,000 mw across 10 projects . Southern Co - Additionally, Co has signed agreements to purchase wind turbine equipment from both Siemens and Vestas for use at facilities .Says wind turbine equipment purchased from both Siemens and Vestas will be used to secure current tax benefits for identified projects.  Full Article

Vestas gets 154MW order in the United States
Friday, 23 Dec 2016 04:36am EST 

Vestas : Receives a firm and unconditional order from MidAmerican Energy Company for 154MW of v110-2.0 MW turbines .The turbines will be manufactured at Vestas' Colorado factories with expected delivery in 2017.  Full Article

MHI Vestas wins 370 MW order in Belgium
Thursday, 15 Dec 2016 03:35am EST 

MHI Vestas Offshore Wind, a joint venture of Vestas and Mitsubishi Heavy Industries <7011.T> : Says will provide 44 units of its V164-8.4 megawatt (MW) wind turbines to Belgium's largest offshore wind project Norther . Says the project is owned by Norther N.V. a joint venture between Elicio and Boreas with three sponsors Elicio N.V. (50 pct), Eneco [ENECO.UL] (25 pct) and Mitsubishi Corporation (25 pct) . Says the V164-8.0 MW turbines – rated with a capacity of 8 MW – have been optimised for the project, utilising a power mode to be able to deliver a maximum output of 8.4 MW . Says commision expected in 2019 Further company coverage: [VWS.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 55;)).  Full Article

Eolus Vind buys 11 wind turbines for projects in southern Sweden
Wednesday, 7 Dec 2016 02:00am EST 

Eolus Vind AB (publ) : Buys 11 wind turbines from Vestas for projects in southern Sweden .Turbines to be erected in 2017 at projects Gunillaberg, Lunna, Täppeshusen and Vilseberga.  Full Article

DONG Energy produces first power from Vestas' 8 MW turbine offshore at Burbo Bank Extension
Monday, 21 Nov 2016 04:59am EST 

DONG Energy : Says has produced first electricity from Burbo Bank Extension wind farm . Says it is the first time the next-generation MHI Vestas 8 megawatt wind turbines have been used commercially offshore . Says Burbo Bank Extension Offshore Wind Farm, located 7 kilometres off Liverpool Bay, is a joint venture between DONG Energy (50 percent) and its partners PKA (25 percent) and KIRKBI (25 percent) Further company coverage: [DENERG.CO] Further company coverage: [VWS.CO] (Reporting by Annabella Pultz Nielsen) ((Annabella.PultzNielsen@thomsonreuters.com;)).  Full Article

Vestas cuts 350 jobs in Denmark
Wednesday, 16 Nov 2016 02:42am EST 

Vestas : Says cuts 350 jobs at turbine blade factory in Lem in western Denmark . Says expects cuts to be have been carried out by the end of 2016 . Says cuts are a consequence of the factory's high costs Further company coverage: [VWS.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 03;)).  Full Article

More From Around the Web

UPDATE 1-GE to sell 82 turbines to wind power complex in Brazil

SAO PAULO, Feb 20 Manufacturer General Electric Co agreed to supply 82 turbines to Brazil's CER (Companhia de Energias Renováveis), which is building a wind power complex in the country, GE's Latin America head for wind power, Jean-Claude Robert, told Reuters on Monday.