The District Court of Keski-Suomi has today decided to start corporate restructuring for Moventas Santasalo Oy and Moventas Wind Oy. Target is to restore operations on sound basis and enable the companies to continue business normally. 

The global recession and prolonged financial crisis significantly impacted the wind power industry supply chain. The Finnish wind power and industrial gear manufacturing and maintenance company Moventas is to file its operational subsidiaries, Moventas Wind Oy and Moventas Santasalo Oy, for corporate restructuring after unsuccessful financing negotiations.

Moventas is selling excess stock of bearings

Moventas and PVO-Innopower have agreed on cooperation, which includes delivering a wind turbine condition management system (CMaS) to PVO-Innopower wind farms in Kemi and Oulunsalo. The deal also includes a remote services agreement.

Moventas today announced a contract with GDF SUEZ Energy Generation NA* (GDF SUEZ) to install Moventas’ wind turbine condition management system (CMaS) at each of GDF SUEZ’s wind facilities in Prince Edward Island and New Brunswick, Canada. Moventas believes this contract represents one of the largest wind turbine retrofit installations in the world.

Wind and industrial gear manufacturer and service provider Moventas expanding its Chinese operations into manufacturing. The Suzhou-based unit will start manufacturing industrial gears next summer. 

Wind and industrial gear manufacturer and service provider Moventas has signed an agreement with Komas Oy concerning the sale of its separate pre-machining unit in Jyväskylä.

Moventas has today completed its co-operation negotiations in Jyväskylä, Finland. Moventas adjusts its wind gear production according to the European market situation and demand of the next few years. The biggest future growth is weighted towards North America and Asia. 

Moventas has opened a new Remote Center for condition management service in its Rautpohja premises in Jyväskylä, Finland. The Remote Center enhances the CMaS condition management system for wind turbine gears by using the latest technology and service expertise for 24/7 customer care.

Wind and industrial gear manufacturer and service provider Moventas is establishing a subsidiary in Brazil.  Reinforcing its local presence is part of the company´s strategy of bringing its services closer to the customer.