Search results for: restructuring plan

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  • 21 October 2016
    Business & Finance

    Oceanteam ASA is in the process of developing a restructuring plan to tackle ”serious financial restraints” caused by ”its current capital cost and structure, which is restricting its ability to develop in the interest of its stakeholders.” The current capital cost and structure have caused immediate cash liquidity constraint for various reasons – some of temporary and some […]

  • 27 June 2018
    Business & Finance

    Adwen will cut 260 jobs in Germany as a consequence of its integration into Siemens Gamesa, as well as due to the parent company’s global restructuring plans.

  • 2 July 2012
    Business & Finance

    According to Reuters, the Danish wind turbine manufacturer Vestas dismissed the allegations that the company was considering putting itself up for sale and had entered debt restructuring talks with its lenders. The allegations were that the company’s banks had given it an “ultimatum”, demanding the company to prepare a comprehensive financial restructuring plan, also that […]

  • 24 October 2016
    Business & Finance

    The Norwegian-Dutch offshore service provider Oceanteam ASA has informed its bondholders that the company will defer its interest payments on the Senior unsecured Bond due 24 October. The news comes after Oceanteam started initial talks with banks and largest bondholders last week as part of the planned capital restructuring. The company will continue this process with all its bondholders with the […]

  • 14 January 2016
    Business & Finance

    GE could cut up to 6,500 jobs in the next two years in Europe during the restructuring process related to the integration of Alstom’s power and grid businesses, which the U.S. conglomerate purchased in November 2015. GE announced yesterday that consultations on proposals for the integration of former Alstom units have begun. The company said it aims to solve […]

  • 10 September 2013
    Business & Finance

    German wind energy developer, Windreich AG, filed for insolvency last week while the company’s CEO Willi Balz submitted his resignation yesterday. Werner Heer has assumed the role of the new CEO. With this step, Windreich tightened the course for the rehabilitation of the company. In cooperation with the previous management, Heer will focus in particular […]

  • 16 September 2013
    Business & Finance

    Due to the ongoing insolvency proceedings, Windreich GmbH announced yesterday that its wholly-owned subsidiary, Windkraft Union GmbH, Wolfschlugen (WKU), had filed for insolvency at the local court in Esslingen. This step was necessary because WKU has obligations toward Windreich GmbH, which currently cannot be met. The WKU had so far worked as a project development […]

  • 22 January 2018
    Business & Finance, Vessels

    Singapore-based offshore vessel operator Pacific Radiance is looking to diversify into offshore wind, according to its latest presentation related to restructuring plans the company has been negotiating with its stakeholders since September 2017. 

  • 16 October 2018
    Business & Finance, Jobs & Recruitment, Operations & Maintenance, Technology

    Adwen GmbH will shut down the production and repair plant in Bremerhaven and close the sites in Bremen and Emden, with the service operation in Bremerhaven remaining in place.

  • 21 July 2011
    Authorities

    Business Secretary Vince Cable has today toured Alexandra Dock where Siemens plans to build an £80 million wind turbine factory which will create 700 jobs, expected to be operational by 2014. Under the development plan Associated British Ports (ABP) will build a £100 million deepwater berth capable of handling the new generation of large offshore […]

  • 11 December 2015
    Business & Finance

    At its meeting today, the Supervisory Board of RWE AG unanimously approved the Executive Board’s plans to restructure the Group. The company will transfer its renewables, grid and retail operations in Germany and abroad to a new subsidiary, which it intends to list on the stock market towards the end of next year. RWE AG […]

  • 17 January 2018
    Authorities, Business & Finance, Contracts & Tenders

    Polish offshore wind foundations manufacturer ST3 Offshore has withdrawn the bankruptcy petition after receiving positive feedback from a District Court on its application to open restructuring proceedings.

  • 30 April 2012
    Authorities, Business & Finance

    PowerWind GmbH has filed for the opening of insolvency proceedings under debtor’s self-administration on 24 April 2012. New German insolvency law offers excellent options for sustainable restructuring. PowerWind GmbH has filed for the opening of insolvency proceedings under debtor´s self-administration [“Insolvenzverfahren in Eigenverwaltung”] with the local court of Hamburg on Tuesday, 24 April 2012. Important […]

  • 13 April 2018
    Business & Finance, Vessels

    International shipping company Vroon has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring.

  • 7 November 2012
    Business & Finance

    GES Deutschland GmbH, the European market leader in the domain of wind energy systems services, will take over service operations of the wind energy systems manufacturer PowerWind GmbH seated in Hamburg. In one of the first insolvency proceedings in self-administration under a new law on facilitating restructuring of insolvent businesses (ESUG), PowerWind CEO Dieter Dehlke […]

  • 7 May 2015
    Business & Finance

    Siemens announced today that it is on track with the implementation of its concept for the company’s strategic realignment. The company has started taking the next steps planned in order to improve its profitability, including measures to improve profitability at the Power and Gas Division’s power generation business as well as a bundle of additional measures […]

  • 22 March 2016
    Business & Finance

    EnBW’s operating result (adjusted EBITDA) for 2015 amounted to around EUR 2.1 billion, 2.7% lower than in the previous year. High impairment losses on power plants and increased provisions for onerous contracts for electricity procurement agreements have impacted the company’s operating result to a considerable extent, EnBW reported. In the 2015 financial year, EnBW achieved slightly higher revenue of […]

  • 2 April 2013
    Business & Finance

    Tomislav Debeljak, Managing Director of DIV Ltd. and new owner of Brodosplit shipyard, revealed new and ambitious business plans on March 30, some of them involving offshore wind projects. Mr. Debeljak addressed his employees in a letter via social media, where he wrote: “I can already announce that next week we will negotiate on 5 […]

  • 16 March 2016
    Business & Finance, Vessels

    A2SEA has today disclosed plans to dissolve all of its non-core business operations and focus solely on installation of foundations and turbines offshore. A2SEA told its employees and the employees of its subsidiary, CT Offshore, that the planned shift in focus and priority will lead to CT Offshore not taking on any more projects, with all of the company’s vessels and equipment to be sold. […]

  • 15 May 2017
    Business & Finance

    Royal Boskalis Westminster has completed a study into the costs of its head office organisation, and will target total cost savings of EUR 30-35 million, resulting in the loss of around 230 jobs.

  • 11 August 2010
    Business & Finance, Technology

    Components for the wind power industry will be produced on a site of 37,300 m² in the future. Gräfenhainichen/Dessau: the growth of AMBAU GmbH continues. Following the opening of its fourth plant in Cuxhaven at the end of 2008, the management board has decided to incorporate a fifth plant into the AMBAU group, to be […]

  • 24 February 2014
    Business & Finance

    Fitch Ratings has revised DONG Energy A/S’s Outlook to Stable from Negative and affirmed its rating, BBB+, of DONG Energy. This follows the recently completed DKK13bn (EUR1.7bn) capital increase, which was the last element of the company’s 2013-14 Financial Action Plan. The combined investment of the existing minority shareholders will total DKK 2,050 million, made […]

  • 23 May 2012
    Business & Finance

    NaiKun Wind Energy Group Inc. (“the Company” or “NaiKun Wind”) announced its financial results for the three months ended March 31, 2012, a fiscal period in which the Company continued to explore ways to forward the NaiKun Wind Project while controlling its costs. A substantial restructuring was undertaken in the third quarter of fiscal 2010 […]

  • 11 November 2019
    Business & Finance

    The UK-based InfraStrata has opened a share sale to raise a minimum of GBP 6 million to finalize the purchase of Harland and Wolff from administrator BDO NI. InfraStrata revealed it is seeking to raise the amount through a placing of new Ordinary Shares by way of an accelerated bookbuild at 0.3 pence per share. […]

  • 13 March 2017
    Business & Finance, Technology

    German wind turbine manufacturer Senvion plans to cut 780 jobs mainly at its facilities in Husum, Trampe and Bremerhaven in an effort to ”make the company competitive again.”

  • 12 August 2014
    Business & Finance

    Wave energy firm Aquamarine Power has appointed experienced financier Douglas Robb as their new Chief Financial Officer.  Robb’s role will be to bring in further private and public sector investment in support of the firm’s ambitious commercialisation plans.  Aquamarine Power is currently completing a major refit of their Oyster 800 wave machine which is scheduled […]