Vestas Plunges Most in Eight Years After Cutting Forecasts - Bloomberg
Turbine makers led by Vestas and its rival General Electric Co. are suffering from slower demand growth, falling prices and narrowing margins as Chinese companies including Xinjiang Goldwind Science & Technology Co. grab market share.
Source: Industrial Wind Action Group
October 31, 2011 by Reed Landberg and Alex Morales in Bloomberg News
Vestas Wind Systems A/S, the biggest wind-turbine maker, dove the most in three years in Denmark after cutting margin and revenue forecasts because of delays in expanding production at a new plant in Travemuende, Germany.
The stock fell as much as 26 percent and traded at 87.65 kroner, down 21 percent, as of 9:06 a.m. local time.
The manufacturer expects revenue of 6.4 billion euros ($9 billion) in 2011, down from the 7 billion euros it had forecast in August. Continue reading
No comments:
Post a Comment