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Vestas sells manufacturing units for €1, shares slide

  • Shares in Danish wind turbine maker Vestas (VWDRY.PK -3.9%) tumble as investors reflect their disappointment at the sale of six manufacturing units for just €1, implying a writedown of €50M on the assets.
  • Vestas says it made the sale "because we operate in a volatile market with steep ups and downs, and we realised that fixed costs were too high, so we needed to outsource non-core activities and focus on core competencies."
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