Chinese Consider Buying Vestas

Rapidly expanding Chinese wind companies Sinovel and Goldwind are reportedly exploring the opportunity to buy the Danish wind giant Vestas.

According to Jyllands-Posten’s sources, individuals in corporate finance have been drafted in to assess the possibility of a Chinese takeover of the troubled Vestas. The windmill manufacturer has seen its share price plummet after disappointing results, leadership issues and increasing competition.

Sources told Jyllands-Posten that a Chinese purchase of Vestas could signify the beginning of the end for windmill production in Denmark, and could cost thousands of Danish jobs.

“If the Chinese purchase Vestas, there is nothing that says that the company will continue to produce anything in Denmark,” an anonymous source said.

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