Vestas Slows Pace Of Hiring, But Still Expects 25% Increase In Turbine Sales In 2009 - Guardian

[hatrack]

Vestas, the world's biggest wind turbine maker, is slowing down staff recruitment in the light of economic uncertainty but still expects to increase sales by more than 25% next year.

The Danish company said its third-quarter earnings rose from €102m (£130m) to €160m, slightly below City forecasts. It was on track for sales of €5.7bn for 2008 and €7.2bn for 2009.

Ditlev Engel, chief executive, said the election of Barack Obama was promising for green energy growth in America and global investment would increase its capital spend to €1.2bn next year.

Planned expansion of staff would be slightly reined in for the short term. "We are going to be holding back a little bit until we see how the (global) financial problems affect the wider picture," said Engel He said employee numbers had risen by 5,000 to 20,000 this year.

EDIT

http://www.guardian.co.uk/business/2008/nov/06/wind-power-vestas