Mitsubishi Heavy to suspend U.S. wind factory on sluggish demand
"Since the 2008 banking crisis, demand for wind turbines in the North American market has stagnated, and the commercialization of cheap oil- shale gas and other matters have had a further dampening effect," the company said in a statement March 29.
April 2, 2012
by Chisaki Watanabe
in Bloomberg News
Mitsubishi Heavy Industries Ltd. (7011), a Japanese maker of heavy machinery, will suspend construction of its wind turbine manufacturing plant in Fort Smith, Arkansas because of sluggish demand in the U.S.
The decision came after the company's board of directors approved an inventory write down and related measures regarding its onshore wind-turbine business on March 29, Hideo Ikuno, a spokesman for Mitsubishi Heavy, said by phone today.
"We are putting the factory on hold for now," he said. The company may resume construction once there are signs of a recovery in demand, Ikuno said.
The price of wind turbines fell... [continue via Web link]