LM Glasfiber, the Danish manufacturer of wind turbines rotor blades, will close one of its manufacturing plants in Engesvang, Denmark, as of 31 December 2003, it was reported on 4 December 2003. The c…
LM Glasfiber, the Danish manufacturer of wind turbines rotor blades, will close one of its manufacturing plants in Engesvang, Denmark, as of 31 December 2003, it was reported on 4 December 2003. The company blamed the closure on lower sales in northern Europe. The closure of the plant will lead to 180 job losses. After the closure, LM Glasfiber will have 1,100 employees in Denmark and 2,300 in total. Since November 2002, the company has cut its staff by 55%. LM Glasfiber has seen a marked reduction in demand for its blades from Germany in 2003, which was mainly attributed to the shrinkage of the German wind turbine market and the suspension of financing by German banks for wind turbine projects. LM Glasfiber expects that capacity at its Lunderskov and Hammelev (Jutland peninsula, Denmark) plants will be sufficient to cover demand in northern Europe in 2004. The move is part of the company“s strategy of reducing production capacity in northern Europe to match the level of demand from the regional market. Southern European and Asian markets, which are growing, will be supplied from LM Glasfiber plants in these regions.