The world’s largest wind turbine maker, Vestas, plans to sell shares to boost its finances.
Daniel Patterson, an SEB analyst , said to Bloomberg: “The cash flow guidance is a mess.”
Earlier this year, Vestas announced that they will reduce their workforce to about 16,000 from 22,721 as a measure of cutting costs.
The wind energy giant is also in talks with Mitsubishi Heavy Industries regarding a potential strategic cooperation.
“As time passes the likelihood of a Mitsubishi Heavy Industries deal has dwindled,” SEB’s Patterson said.
If these talks fail, Vestas plans to sell € 500 million in shares.
[mappress]
Offshore WIND staff, November 19, 2012; Image: vestas