SIAG Report Negative Results for First Nine Months of 2011 (Germany)

The SIAG Schaaf Industrie AG, a leading supplier of onshore and offshore wind energy, reported an income of EUR 114.6 million according to preliminary figures for the first nine months of 2011.

The group’s profit was negative € -11.5 million. Their capital dropped from € 16.0 million to 4.4 million. EUR 9,6 million is related to onshore, and EUR 1,6 million to offshore projects.

The result reflects the negative wind industry trend from the last year.

The number of orders shows that the wind energy industry is getting back on its feet.

SIAG received major order for onshore and offshore energy project worth a total EUR 247 million.

Prior to September 30, the total value of the planned projects was EUR 249,2 million (183,5 million for offshore, and 65,7 million for onshore).

 SIAG Schaaf Industrie AG

SIAG Schaaf Industrie AG has grown from a classical steel construction company to the leading supplier of the power generating industry in the past 15 years. Worldwide, the SIAG Group employs 1,800 staff at 11 locations across Europe, Africa, Asia and the USA.

Our core competency is divided into two business units:

• Wind Energy Technology Onshore

• Maritime Systems / Offshore

SIAG’s target markets are wind turbine manufacturers for onshore and offshore wind farms as well as companies active in the field of high technological steel construction and mechani-cal engineering. SIAG combines the benefits of being a medium-sized industrial company with the effectiveness of an international Group. Due to a fast and efficient decision-making process, SIAG is able to respond to market challenges without delay.

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Offshore WIND staff, December 27, 2011; Image: siag