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September 17, 2009 Moventas focuses on renewable energyMoventas, the biggest wind power player in Finland and globally the third largest wind turbine gear manufacturer will according to its new strategy focus on mechanical power transmission in renewable energy. The company continues also with industrial gears manufacturing that has a supporting and balancing role in the operations. The greatest growth potential, however, is believed to be found in wind power. - Energy consumption in the world is continuously growing. To reach mutually agreed climate targets we need to take all possible means: energy saving, more efficient technological solutions, more renewable energy and nuclear energy. Of the renewable energy forms, windpower is expected to grow most during the next ten years, says Jukka Jäämaa, the CEO of Moventas. Majority of Moventas' investments during the past couple of years have already been directed to the wind power industry. Other targets of the new strategy for the next couple of years are geographical expansion, emphasis on R&D, and especially expanding the global service network. - Moventas has solid and special know-how in wind sector, and we will in the future put focus on making it well-known and available. After the global economic downturn we believe that the strong growth of the company will continue, Jäämaa comments. More information 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 2008 Moventas generated net sales of EUR 382 million. The company has over 1300 employees in 8 countries globally with a world-wide partner network. European private equity investor IK Investment Partners holds the majority of the shares in Moventas. www.moventas.com « Back | Print page | |
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