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Released March 17, 2017 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--German wind turbine manufacturer Senvion SE (Hamburg, Germany) is axing 780 jobs in an effort to streamline costs and stay competitive.
The company confirmed that the cuts, which represent 17% of its global workforce, will be made mainly in Germany at its Husum, Trampe and Bremerhaven facilities.
Senvion Chief Executive Officer Jürgen Geissinger said: "There is no alternative to decisive changes in order to secure the long term competitiveness of our company with 4,100 employees. Senvion in recent years has developed new products, improved processes, and made the required investments. Now we have to follow through on our strategy and pave the ground for future global growth. We are setting the ground work for the successful future of the company."
Senvion Chief Financial Officer Manav Sharma added: "We have consistently highlighted efficiency improvements as one of the core focus points for a successful future. The announced changes are tough but a required step in that direction."
Wind turbine makers are under strong price pressure and dealing with a shift in demand from established markets to growth regions in South America and Asia.
The company is suffering from growing competition and falling prices as the wind sector continues to move rapidly toward parity with more traditional forms of power such as coal and gas. The company noted that there has also been a shift in demand from established markets in Europe to growth regions in South America and Asia.
Senvion's traditional onshore business in Germany has been hit as offshore wind projects have started to dominate new project investment. German onshore wind energy agency FA Wind highlighted that Senvion suffered a big dip in onshore installations in 2016. Last year, Senvion installed 106 turbines with 314 megawatts (MW) of capacity, which represented just over 7% of all German onshore installations. However, in 2015 Senvion's share was 19.5%, having installed 244 turbines with a total generating capacity of 734 MW.
Earlier this month, Industrial Info reported that Senvion had bagged three onshore windfarm deals in Scotland and England with Banks Renewables, part of family-owned The Banks Group (Durham, England). They will have a combined generating capacity of 151 MW. For additional information, see August 21, 2013, article--Senvion Wins Turbine Deal for Three U.K. Windfarms.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
The company confirmed that the cuts, which represent 17% of its global workforce, will be made mainly in Germany at its Husum, Trampe and Bremerhaven facilities.
Senvion Chief Executive Officer Jürgen Geissinger said: "There is no alternative to decisive changes in order to secure the long term competitiveness of our company with 4,100 employees. Senvion in recent years has developed new products, improved processes, and made the required investments. Now we have to follow through on our strategy and pave the ground for future global growth. We are setting the ground work for the successful future of the company."
Senvion Chief Financial Officer Manav Sharma added: "We have consistently highlighted efficiency improvements as one of the core focus points for a successful future. The announced changes are tough but a required step in that direction."
Wind turbine makers are under strong price pressure and dealing with a shift in demand from established markets to growth regions in South America and Asia.
The company is suffering from growing competition and falling prices as the wind sector continues to move rapidly toward parity with more traditional forms of power such as coal and gas. The company noted that there has also been a shift in demand from established markets in Europe to growth regions in South America and Asia.
Senvion's traditional onshore business in Germany has been hit as offshore wind projects have started to dominate new project investment. German onshore wind energy agency FA Wind highlighted that Senvion suffered a big dip in onshore installations in 2016. Last year, Senvion installed 106 turbines with 314 megawatts (MW) of capacity, which represented just over 7% of all German onshore installations. However, in 2015 Senvion's share was 19.5%, having installed 244 turbines with a total generating capacity of 734 MW.
Earlier this month, Industrial Info reported that Senvion had bagged three onshore windfarm deals in Scotland and England with Banks Renewables, part of family-owned The Banks Group (Durham, England). They will have a combined generating capacity of 151 MW. For additional information, see August 21, 2013, article--Senvion Wins Turbine Deal for Three U.K. Windfarms.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
