The world’s largest wind power generation company (by sales) is in discussion with Japan’s Mitsubishi Heavy Industries about a ‘potential strategic co-operation.’
There is speculation that Vestas may be subject to a takeover having struggled to cope in the face of intense Chinese competition but discussion details have not been released, which would give substance to that possibility.
It announced it will cut 3,700 workers this year and was forced to enter into talks about a debt restructuring with its lenders and late last month negotiated a delay in the testing of its half-year banking covenants, reports the FT.
Japanese companies are moving more into renewables now that nuclear energy is likely to be shelved.
Vestas has already been the subject of takeover rumours from China Ming Yang Wind Power, Sinovel Wind, and Xinjiang Goldwind Science & Technology in the past.
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