The global site of the UK's leading magazine for automation, motion engineering and power transmission
26 September, 2023

Twitter link

Is DeWind sale an ill wind for FKI drives?

01 November, 2004

Is DeWind sale an ill wind for FKI drives?

The future of FKI`s Loughborough-based drives business is uncertain following the group`s decision to sell its DeWind wind turbine business, just two years after buying the business for £23m. A major part of the drives business has been to supply converters for the DeWind turbines.

In the year to March 2004, DeWind made a loss of £6.3m. FKI says that since it bought the firm in 2002, the wind turbine business has changed, with large-scale wind farm orders favouring bigger manufacturers. The five largest turbine suppliers, which now include Siemens and General Electric, account for 80% of the global market. FKI expects that the DeWind closure will cost it about £20m.

FKI, which controls 23 businesses, has identified five which it intends to keep. These include: materials-handling; lifting products; high-tech ropes; and turbo generators.

In January 2004, FKI announced that it was shutting its Norwich-based motors business, Laurence Scott and Electromotors. The closure was postponed while FKI tried to find a buyer for the business, but in its half-year results statement published in early December, FKI revealed that it has failed to find a buyer and and LSE business will shut by June 2005.

The announcement of the DeWind sell-off has prompted speculation of a takeover bid for FKI.

  • To view a digital copy of the latest issue of Drives & Controls, click here.

    To visit the digital library of past issues, click here

    To subscribe to the magazine, click here



"Do you think that robots create or destroy jobs?"



Most Read Articles