Vestas Wind Systems confirms in talks with Mitsubishi Heavy

Aug 28, 2012 - Denmark-based wind turbine maker Vestas Wind Systems A/S (CPH:VWS) confirmed it was in talks with Japanese Mitsubishi Heavy Industries (TYO:7011) on a potential strategic cooperation, in response to market rumours yesterday.

Vestas said that it would issue a statement if the dialogue would result in an agreement, without providing further information.

Earlier in August, Vestas unveiled plans to cut another 1,400 jobs to prepare for a challenging 2013. At the beginning of the year, the company launched a reorganisation programme that envisaged 2,335 job cuts in 2012, of which so far 1,000 have been implemented.

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