Moventas Gears Oy has received an AA/Good credit rating from the Finnish independent credit rating party, Suomen Asiakastieto Oy. The financial restructuring of the Moventas companies proceeded as planned, and the remaining restructuring debt was paid on 15 January, 2015.
Simultaneuously the Santasalo industrial gear business was established as its own company, and Moventas Gears Oy now only concentrates on renewable energy business, namely gearbox manufacturing and O&M services for wind and tidal turbines. Moventas’ net sales grew by over 120% in 2014, and the company’s profitability improved significantly. The business is estimated to grow also this year. The long-term outlook is good for both Moventas’ gearbox manufacturing and service business. They are supported by the industry’s growth, e.g. globally increasing demand of wind turbines and service needs of ageing fleets.
