The plan, in line with Moventas' strategy, is part of expanding the company's operations closer to the customers. Moventas' Western customers operating in China, as well as Chinese customers, have wished for the company to start local manufacturing of industrial gears in China. The Asia Pacific area is a growing market for the industrial gears business.

The Suzhou unit, presently a service center, will start manufacturing components and industrial gears and, when needed, customer-specific volume products, all fulfilling Western quality requirements.

During 2011, the Suzhou unit will recruit 40-50 new employees in addition to the current 20 of staff. The recruitment has no effect on employment in Finland.

- Our Industrial Gears division grows as demand is recovering, hence the Karkkila factory that serves our Western clientele is also currently recruiting, reminds Moventas CEO & President Jukka Jäämaa.

Manufacturing operations in Suzhou will kick off in the summer of 2011.

Further information:

CEO & President Jukka Jäämaa, Moventas Oy, tel. +358 50 526 7665, jukka.jaamaa@moventas.com

----

Moventas is one of the largest manufacturers of wind turbine gears in the world. The company also manufactures power transmission solutions for industry use and provides services for their overhaul and maintenance. Majority of the products' end use is connected with renewable energy. In 2009 Moventas generated net sales of EUR 237 million. The company has 1,200 employees in nine countries globally with a worldwide partner network. European private equity investor IK Investment Partners holds the majority of the shares in Moventas. www.moventas.com