Press releases

Moventas finishes cooperation negotiations

The cooperation negotiations of Moventas companies have ended today. The negotiations resulted in reduction of Moventas Wind Ltd’s personnel in Jyväskylä as planned. Moventas Santasalo Ltd’s negotiations had no personnel impact.

The cooperation negotiations of both Moventas companies began on 21 November, and lasted two weeks as determined by the corporate restructuring procedure. Wind gear manufacturer Moventas Wind Ltd’s negotiations resulted in the reduction of 120 man years as originally planned, of which 62 are redundancies.

The personnel reductions include outsourcing of certain operations, which involves unfinished negotiations. The reductions concern all personnel groups of Moventas Wind Ltd.

In Karkkila Moventas Santasalo Ltd’s negotiations had no immediate personnel impacts; they concerned the possible termination of the factory’s lease agreement. Similar situation concerns also the lease agreements of Moventas Wind Oy’s Jyväskylä factories. Negotiations concerning the lease agreement with the owners of the premises were unfinished on the day of closing the cooperation negotiations.

The cooperation negotiations were a part of reorganizing and restructuring of the Moventas companies, currently undergoing corporate restructuring. The companies are also about to have a new owner, as the British industrial engineering group Clyde Blowers signed a share purchase  agreement on 14 November, 2011, concerning the acquisition of Moventas companies. The preparations for closing the acquisition are underway and proceeding as planned, and the final closing date should be around the year-end.

- The cooperation negotiations held now are an unfortunate but crucial part of the restructuring program but it gives us a better starting point for the companies’ further development, says President & CEO of the Moventas companies, Jukka Jäämaa.

After the current reductions of Moventas Wind Ltd, Moventas Wind Ltd. employs 324 people in Jyväskylä and Moventas companies 890 people worldwide.

Based on the short-term market outlook of the wind power industry as well as Moventas Wind Ltd’s customers, Moventas will also continue the temporary layoffs of its Jyväskylä staff in 2012.

About Moventas

Moventas is a wind gearbox technology expert and service provider. Moventas’ technology strives for lowering the cost of energy across the lifecycle of wind energy generation, from superior gearbox design and manufacture to extensive multi-brand service for 20 different turbine brands' gearboxes globally.