The restructuring of the Moventas companies that began last June ended today, as the district court of Jyväskylä confirmed the restructuring programmes of Moventas Santasalo Ltd and Moventas Wind Ltd.

Moventas companies, currently under corporate restructuring, are taking measures to release their excess capacity in Finland. Therefore, the industrial gear manufacturer Moventas Santasalo Ltd has decided to terminate its lease agreement in the Karkkila factory as of the first quarter of 2013.

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.

Moventas Wind has been awarded a Later Stage Award by the Global Cleantech Cluster Association, known as the global voice of cleantech.

Global industrial engineering group Clyde Blowers has yesterday signed an agreement to acquire the wind gear manufacturer Moventas Wind Ltd and the industrial gear manufacturer Moventas Santasalo Ltd. Following the acquisition of the Moventas companies, Clyde Blowers, with its existing David Brown Gear Systems business, will be one of the largest gear manufacturing groups in the world.

The Global Cleantech Cluster Association, known as the global voice of cleantech, announced its Global Top 30 Semi-Finalists for its 2011 Later Stage Award at the 11th European Forum on Eco-Innovation in Lahti, Finland today.

Moventas Santasalo has developed a new gear series of Yankee cylinder drive units for tissue machines.

Moventas Santasalo Oy and Tornio based Tormets Oy have entered into an agreement covering the service and maintenance of mechanical power transmission equipment in Northern Finland and Northern Sweden.

The article published on Kauppalehti today, September 20, 2011; telling about Moventas being sold in pieces, is faulty in several aspects.

Customer demand for Moventas products and services has not been affected by the restructuring process. We hear positive news both from industrial gear and wind gear businesses.