Gone with the wind
Vestas, the Danish wind turbine manufacturer, said today it would close five production plants across Scandinavia and cut 3,000 jobs.
The group said the surge in demand for wind power it had hoped for in Europe had not materialised...
The cuts came as Britain celebrated more than £300m of investment in new manufacturing centres by rival manufacturers GE, Siemens and Gamesa. Following a boost from the government's Infrastructure Plan on Monday, GE said it would invest £100m in a manufacturing plant. Spanish firm Gamesa said it would spend €150m (£131m) setting up a worldwide centre for offshore wind, including a turbine factory; and Siemens said it would build an £80m wind turbine factory.
Monday's announcements were part of a commitment to a £60m upgrade of British ports to make them suitable for dealing with large offshore turbines.
"Celebrated"? Celebrated that if our government spunks away our money some big firms are happy to spend it? The market is withering and our genius leaders decide now is the time to chuck more money at it?