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NORDEX SE (FRA:NDX1) Nordex SE: Nordex adjusts structures to local US market situation

Directive transparence : information réglementée

28/06/2013 07:38
DGAP-News: Nordex SE / Key word(s): Restructure of Company Nordex SE: Nordex adjusts structures to local US market situation 28.06.2013 / 07:38 --------------------------------------------------------------------- * All production to be concentrated in Rostock (Germany) plant * Goal is to maximize capacity utilization and achieve sustainably higher profitability * All closure expenses accounted for in 2012 Hamburg, 28 June 2013 - Nordex SE announced today that the company will cease nacelle production at its Jonesboro, Arkansas facility after it completes the orders in its current pipeline. The decision was driven by the wind industry's global overcapacity and the continued uncertainty and instability of the US market. The decision will not impact the current year's business performance, as exceptional expenses were already accounted for in 2012 as previously reported. Dr. Jürgen Zeschky, CEO of Nordex SE, explained, 'This was an extremely difficult decision for Nordex. We are reacting to the weakened demand from the US market, brought on by the unpredictable extensions of the Production Tax Credit (PTC), and the resulting low utilization rate of our US assembly plant. We see great potential in the US and Latin American markets and are committed to serving those markets and increasing our installed base. With this decision we also increase our flexibility to react to US demand for our turbines out of one single plant in Rostock, Germany. We will be maintaining the extensive expertise in sales, engineering, service, project management, training and support which we have built at our Chicago and Jonesboro locations to continue the growth we have achieved through these challenging times.' Ralf Sigrist, President & CEO of Nordex USA, Inc. commented, 'This is a sad day for all of us at Nordex USA. We will lose valued colleagues, who have done their very best for us, but the decision was inevitable considering the underutilization of our plant.' In the future, nacelles for the North and Latin American markets will be supplied from Nordex' factory in Rostock, Germany, using the global supply chain and logistics support based there. Service activities for all existing US wind farms are not affected by the closure of the US production. The training academy, the central parts storage and the repair facility in Jonesboro will remain in operation to support Service and Operations in the Americas. Around 40 employees will be affected with layoffs beginning in the fall 2013. The restructuring of the company in the United States is in line with Nordex' strategy to position its operations to maximize capacity utilization. For more information, please contact: Nordex SE Felix Losada phone: +49 (40) 30030-1000, facsimile: -1333 End of Corporate News --------------------------------------------------------------------- 28.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Nordex SE Langenhorner Chaussee 600 22419 Hamburg Germany Phone: 040 / 30030 1000 Fax: 040 / 30030 1101 E-mail: info@nordex-online.com Internet: www.nordex-online.com ISIN: DE000A0D6554 WKN: A0D655 Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 218610 28.06.2013