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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.
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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