Environment
9:25 am
Wed April 18, 2012

Report: Chinese Companies Consider Vestas Takeover

A prominent wind energy company – with North American headquarters in the Pacific Northwest – may be acquired by a rival Chinese corporation.

A Danish newspaper is reporting that two Chinese companies are considering takeover bids for Vestas Wind Systems. The Danish firm’s North American headquarters are based in Portland.

Vestas has faced financial trouble over the past year. The company’s chairman and chief financial officer resigned in February.

Sinovel Wind Group and Goldwind Science and Technology are the top two wind turbine manufacturing companies in China.

Reuters reports that Vestas shares jumped nearly 15 percent after the newspaper report. According to a Bloomberg report, the Danish Energy Minister says the government would not block a takeover bid because Vestas is a private business.