Major Shareholder Announcement – Central Bank of Norway
Vestas has received information from Norges Bank Investment Management, Bankplassen 2, P.O. Box 1179 Sentrum, 0107 Oslo, Norway, that Central Bank of Norway (Norges Bank) as per 13 January 2011 has increased their holdings of Vestas shares to 10,277,212 shares (5.05 per cent).
Vestas Wind Systems is a Danish manufacturer, seller, installer, and servicer of wind turbines. It is the largest in the world, but due to very rapid growth of its competitors its market share decreased from 28% in 2007 to 12.5% in 2009. The company operates manufacturing plants in Denmark, Germany, India, Italy, Britain, Spain, Sweden, Norway, Australia, China, and the United States, and employs more than 20,000 people globally.
After a sales slump in 2005, Vestas recovered and was voted Top Green Company of 2006. In late 2008 the company announced a manufacturing expansion in Colorado. In August 2010, Vestas also announced a significant expansion of its North American headquarters in Portland, Oregon. In October 2010, the company announced it was closing some of its factories in Scandinavia, with the loss of 3000 jobs.
About Norges Bank
Norges Bank is Norway’s central bank. The Bank shall promote economic stability in Norway. Norges Bank has executive and advisory responsibilities in the area of monetary policy and is responsible for promoting robust and efficient payment systems and financial markets. Norges Bank manages Norway’s foreign exchange reserves and the Government Pension Fund Global.
Source: Vestas, January 18, 2011