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Moventas, a manufacturer of wind turbine gears and industrial gears, increased its net sales by 31 % to € 382 million in 2008. The main driver of Moventas' net sales growth was the substantial increase of wind turbine gears demand globally.
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Net sales for the Wind Gears business area grew by more than 50 % to € 235 million. Moventas reached EBITDA of € 42 million representing 11 % of the total net sales in 2008. In 2008 Moventas made significant expansions to its production capacity. Factory expansion investments amounting to approximately € 75 million were concluded in Karkkila and Jyväskylä, and a new wind turbine gear factory was started up in Jyväskylä.
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