The two companies have signed a binding sales and supply agreement under which Vestas will sell the units for €1 plus an earn-out element for Vestas of up to €25m ($33.8m).
The deal covers Vestas’ twomachining units and four casting units, including about 1,000 employees inNorway, Sweden, Germany, China and Denmark.
The divestment price implies a further write down of about €50m, consisting of approximately €20m in assets held for sale and some €30m in net current assets, which will be included in special items in the third quarter of 2013, Vestas says.
Vestas'
