Santasalo and Moventas complete split
Moventas Gears Oy, owned by the industrial group Clyde Blowers, has completed the corporate restructuring program that it entered in 2011. In connection with finalizing the restructuring program, the company’s restructuring debt has been paid, and the Santasalo business has been established as its own company, headquartered in Wuppertal, Germany.
The two businesses have operated as separate entities for almost a year. The operative split of the Group has enabled Moventas to fulfil its clienteles’ needs globally even better than before. Now, the restructured debt-free Moventas business continues as its own company in the growing wind energy industry. Coming out of the restructuring program and the legal company split further supports Moventas’ business growth, the company said.
“We are now purely focused on the wind industry, making no compromises on strategy and resource allocation,” said Moventas chief executive officer Arto Lahtela. “This enables focus on technology leadership and gives us even more flexibility to support our customers on all main markets.”
The division has no personnel impacts, and Moventas’ ownership will remain the same. This arrangement also has no operative impact on facilities. Moventas’ main factories are located in Jyväskylä, Finland, and it runs service entities in Finland, Germany, UK, Spain, Italy, Canada, Australia and several locations in the US.
Moventas currently employs 450 people globally, 328 of whom are based in Finland.