Also the net sales of the Industrial Gears business area increased from the previous year by 8% to EUR153 million.
In 2008 Moventas made significant expansions to its production capacity. Factory expansion investments amounting to approximately EUR75 million were concluded in Karkkila and Jyväskylä, and a new wind turbine gear factory was started up in Jyväskylä.
“Moventas reached last year record high net sales with a significant growth especially in the Wind Gears business area. We carried out large investment projects to meet the increased global demand, and simultaneously improved our profitability. However, during the last quarter of 2008 we saw the first signals of temporarily weakening demand. We expect the year 2009 to be challenging due to the global financial crisis. In the long term the growth prospects for wind energy are still very good. During the ongoing year we will focus on the profitability and internal process development to be even better able to provide competitive solutions to our customers”, says Jukka Jäämaa, president and chief executive officer, Moventas.
