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GE warns of turbulence ahead for turbine production
US engineering giant General Electric (GE) yesterday warned that rising steel prices and turmoil on the financial markets will have a negative impact on its fast expanding wind turbine business.
Speaking at an event in Germany to publicise its latest turbine, GE Energy's global sales leader for wind energy, Mete Maltepe, said that the rising cost of steel would drive up the price of turbines.
October 2, 2008
by Andrew Donoghue
in BusinessGreen
Engineering giant admits rising cost of steel and the credit crunch represent blow to wind turbine business
US engineering giant General Electric (GE) yesterday warned that rising steel prices and turmoil on the financial markets will have a negative impact on its fast expanding wind turbine business.
Speaking at an event in Germany to publicise its latest turbine, GE Energy's global sales leader for wind energy, Mete Maltepe, said that the rising cost of steel would drive up the price of turbines.
"There is a lot of steel in our turbines, so the cost of steel going up makes turbines more expensive,"... [continue via Web link]
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