NewEnergyNews: FORMER CHINA WIND LEADER SINOVEL FADING

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    Friday, July 12, 2013

    FORMER CHINA WIND LEADER SINOVEL FADING

    Sinovel Closes International Offices

    2 July 2013 (Wind Power Monthly)

    “Sinovel has axed foreign offices in Canada, Belgium, Italy and the US…[though it] still has overseas offices in the UK, Spain, Brazil, South Africa, India, Turkey and Australia…In its annual results, Sinovel said it had an order pipeline of more than 9GW. However, only 82.5MW was outside China…Sinovel has had a torrid 12-months, with the departure of two CEOs, financial losses, job cuts and a slide down the installation rankings…[and the] US Department of Justice last week entered the long-running legal battle between AMSC and Sinovel and issued charges of intellectual property theft against the Chinese turbine manufacturer, carrying jail terms of more than 30 years and fines totaling $4.8 billion.” click here for more

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