Moventas, a supplier of wind turbine gears and industrial gears, has increased its net sales in 2007 by 40 percent. Profitability has improved, and the number of employees grew by 120. The strong growth of Moventas’ net sales is due primarily to wind turbine gears. Net sales for the wind gears business area grew by 72 percent. Also, sales of the industrial gears business area increased substantially, by 20 percent, compared to the previous year.
The global demand for wind power has increased at an annual rate of more than 20 percent. In 2007 about 20,000 MW of new wind power generation capacity were installed, increasing the installed global capacity to approximately 95 gigawatts. The market for the industrial gears business area grew, particularly in the minerals industry and the pulp and paper industry in Asia. Demand for gear services also increased in both business areas.
In 2007, Moventas made a significant decision to expand its production capacity in Finland. Factory expansion investments totaling approximately EUR 130 million are underway in Karkkila and Jyväskylä, and a new wind turbine gear factory is being built in Jyväskylä. Production is scheduled to start in the fall of 2008, and the entire production capacity will be in use by the end of 2009. Moventas strengthened its global network by establishing a Competence Center in China and signing agent agreements in Portugal, Russia, and South Africa.
“Moventas experienced record growth in 2007,” says president and CEO Ilkka Hakala. “We are proud that, in the midst of large investment projects, we were able to improve our profitability and meet increased global demand. The capacity improvements now in progress will enable strong growth in the future as well.”
Moventas specializes in mechanical power transmission. As one of the world’s leading companies in this area it develops, manufactures, and sells wind turbine gears and mechanical drives for process industries. For more information contact Hakala at +358 400 824 696 or ilkka.hakala@moventas.com. Go online to [www.moventas.com].
