The German power equipment supplier is struggling with far-reaching quality issues at its onshore wind turbine division as well as potentially loss-making offshore contracts, which have caused its shares to more than halve since June.
I guess Germany will import their wind turbines?
Well, so much for “German Quality”. I guess not only our infrastructure is crumbling at the foundation.
so much for “German Quality”
Their wind power division is called Siemens Gamesa Renewable Energy, headquartered in Zamudio (Spain). Their main production, blades for turbines in particular which have massive quality issues and cost them billions, sits in Aveiro (Portugal), with only some minor production (mainly nacelles and R&D) done in Germany and Denmark (also China, US and Canada, but those are mostly irrelevant for the bulk production in Europe).
A parent company sitting in Germany doesn’t make it German quality production when everything is outsourced.
A parent company sitting in Germany doesn’t make it German quality production when everything is outsourced.
Yeah, you spotted the problem. The label is nearly worthless nowadays.
This is the best summary I could come up with:
The German power equipment supplier is struggling with far-reaching quality issues at its onshore wind turbine division as well as potentially loss-making offshore contracts, which have caused its shares to more than halve since June.
The measures, which are likely to cause fresh layoffs, are aimed at providing long-term relief for Siemens Gamesa by outsourcing production of some key components, such as blades, in order to raise margins, the people said.
Details of the division’s restructuring could be unveiled in November, when Siemens Energy is scheduled to release annual results and hold a capital markets day, the people said.
Globally, Siemens Gamesa, the world’s largest maker of offshore wind turbines, operates 79 sites, including sales and service offices, R&D centres as well as 15 factories to produce blades and nacelles.
Some of those could be closed or put under temporary hibernation as Siemens Gamesa aims to rid itself of production of parts its suppliers can make more cheaply, the people said.
According to two separate sources familiar with the matter, removing the leadership would not necessarily fix the problems and a sale of Siemens Gamesa’s problematic onshore division is currently seen as a major challenge.
The original article contains 470 words, the summary contains 195 words. Saved 59%. I’m a bot and I’m open source!
