April 16, 2009

Moventas joins the Global Growth Companies' Community (GGC) as the first Finnish member

Moventas, manufacturer of wind power gear units and mechanical drives has been invited to join the Community of Global Growth Companies (GGC) of the World Economic Forum.  Moventas has fulfilled the criteria of leadership, growth and expansion outside of its traditional boundaries. Forum's mission is to improve the stake of the World through a multistakeholder approach to problem solving which is essential at this time of economic turmoil.

"Moventas is extremely proud to be nominated the first Finnish member of Global Growth Companies Community (GGC). Our growth has been very strong and we also have high expectations on the future. Wind energy can be considered as one of the sustainable solutions to meet the increasing global energy demand and simultaneous reduction targets of carbon dioxide emissions," says Jukka Jäämaa, President & CEO, Moventas.

Global Growth Companies Community is a new community of rapidly growing emerging multinationals at the World Economic Forum. It was founded in 2007 and it has currently 200 members globally. The Community was created to recognize the next generation of industry leaders. It supports them as they navigate the challenges of new geographies, markets, cultures and regulatory systems as they become a major driving force in social and economic development.

Moventas expects the Community to work as a platform for influencing the future needs and technology development on a global scale. Moventas also expects to gain from experiences of other members at the Community especially on managing the fast growth and expanding business to new geographical areas.

For more information, please contact:
Jukka Jäämaa, President & CEO, Moventas, tel. +358 50 526 7665
Richard Elliot, Senior Media Manager, World Economic Forum, tel +41 (0)22 869 1212

Jukka Jäämaa speaks about Moventas joining the community:
http://www.youtube.com/watch?v=oxTssdznRBY

Moventas
Moventas is one of the leading experts in mechanical power transmission. The company designs, manufactures and markets mechanical power transmission solutions and services for the wind power, energy and process industries. In 2008 Moventas generated net sales of EUR 382 million, representing 31 % growth of the previous year. 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

World Economic Forum
World Economic Forum is an independent international organization commited to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. www.weforum.org