Vestas to Temporarily Halt Output at Colorado Plant

[phantom power]

Historically low sales during the first quarter have been exacerbated by tight credit markets caused by the recession, Peter Kruse, the Denmark-based company’s spokesman, said today in a telephone interview. Vestas opened the plant in March 2008.

“Going forward you will see this every once and again,” Kruse said. “We’ve seen these very slow quarters. We are slowing down temporarily. It reflects the nature of the business.”

...

“There is a significant amount of overcapacity in the wind market right now in the U.S.,” said Brian Gamble, an analyst at Simmons & Co. International in Houston. “It’s a sign that the market is still weak. There’s just fewer dollars out there this year than last year.”

Gamble said Vestas built the plant to supply the burgeoning U.S. market and that most of the company’s business was in Europe. The Colorado plant “doesn’t really have the end-market to ship to right now,” Gamble said.

Kruse said the 500 workers at the plant will be placed on furlough and not laid off. He said the workers will be called back when orders pick up.

http://www.bloomberg.com/apps/news?pid=20601072&sid=aA.OvM.e6eTM

[madokie]

1. Sad to hear but happy to read what the company had to say about their workers

That kind of talk is what warms the cockles of this ole mans heart