Vestas sells manufacturing units for €1, shares slide

|About: Vestas Wind Systems A/S ADR (VWDRY)|By:, SA News Editor

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."