SOURCE: Moventas Oy

January 28, 2010 03:11 ET

WIND GEAR MANUFACTURER MOVENTAS FROM FINLAND TO START R&D CO-OPERATION WITH DONG FANG, ONE OF THE LARGEST TURBINE MANUFACTURERS IN CHINA

HELSINKI, FINLAND--(Marketwire - January 28, 2010) - One of the biggest wind gear manufacturers in the world, Moventas and Dong Fang New Energy Equipment (DNEE) have agreed on co-operation. The parties will in co-operation develop a 3 MW wind turbine of international quality requirements aimed for the Chinese market. Moventas' role is to provide the reliable gear solution to the turbine. The first prototype gears will be delivered in December 2010.

Concentrating on wind power, DNEE is a recently established unit in Dong Fang Electric Corporation, one of the biggest manufacturers of generating equipments in China. At the moment Dong Fang portfolio includes thermal, water and nuclear power plants of different sizes, with yearly capacity of 10.000 MW. The share of wind power grows rapidly in China, and as the third largest wind turbine manufacturer Dong Fang leads the way.

- We want to offer more and competitive alternatives within renewable energy and the new 3 MW turbine will be a very attractive choice to our customers. The high quality level, competence and reliability in deliveries convinced us of Moventas as the gear provider. After all, gears are exposed to extreme conditions and high torque up in the tower, saysGeneral Manager, Director Han Zhi Quiao from Dong Fang.

For Moventas, the co-operation with the local actor means a clear opening in Chinese markets.

- We have solid plans to expand our operations in Asia, especially in China. This collaboration is an excellent milestone on our path and also a strong indication of the trust that the market has on Moventas' expertise, says Jukka Jäämaa, the CEO of Moventas.

More information

Jukka Jäämaa, President and CEO, Moventas Oy
jukka.jaamaa@moventas.com, +358 50 5267665

Moventas is one of the largest manufacturers of wind turbine gears in the world. The company also manufactures power transmission solutions for industry use and provides services for their overhaul and maintenance. Majority of the products' end use is connected with renewable energy. In 2008 Moventas generated net sales of EUR 382 million. The company has over 1300 employees in 8 countries globally with a world-wide partner network. European private equity investor IK Investment Partners holds the majority of the shares in Moventas.www.moventas.com

Contact Information