Vestas Wind Systems A/S rose to its highest in more than three years after unexpectedly posting a profit in the first quarter, building on a turnaround that the world’s biggest wind-turbine maker completed last year.
Vestas Wind Systems A/S, the world’s largest maker of wind turbines, hasn’t won an order in the largest global market since 2008. Chief Executive Officer Ditlev Engel aims to change that this year, with an expansion that may topple General Electric Co.’s U.S. lead.
Members of Vestas Wind Systems A/S’s executive management team have held meetings to discuss the performance of Chief Executive Officer Ditlev Engel, Borsen reported, citing sources close to the talks that the newspaper didn’t identify by name.
Vestas Wind Systems A/S tomorrow plans to announce organizational changes that may cut thousands of jobs at the world’s biggest wind turbine maker while preserving the position of Chief Executive Officer Ditlev Engel.
Vestas Wind Systems A/S, the world’s biggest wind turbine maker, said it will halt production at one factory and cut 2,335 jobs, or 10 percent of its staff, to become more competitive with Chinese suppliers.
U.S. wind turbine sales may “fall off a cliff” unless lawmakers extend tax credits supporting the market beyond 2012, said Ditlev Engel, chief executive officer of Vestas Wind Systems A/S, the biggest maker of the machines.