Vestas Wind A/S : Cuts 220 Jobs Amid Integration of MHI Offshore Wind

By Dominic Chopping

Vestas Wind Systems AS said Thursday it will cut 220 jobs as it integrates the recently acquired MHI Vestas Offshore Wind business.

Vestas completed the acquisition of Mitsubishi Heavy Industries Ltd.' 50% stake in their offshore wind joint venture for 709 million euros ($862.1 million) last month and has now begun integration of the two businesses.

"Through this integration, we are building a stronger and more competitive Vestas across our onshore and offshore businesses, and our planning has shown synergies across several functions, which unfortunately entail redundancies," the company said.

Most of the job cuts will be in Denmark, it said.

Vestas employs more than 29,000 people globally and around 6,000 in Denmark across onshore and offshore activities.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

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