Blade-maker LM Wind cut jobs and output as 2011 turned nasty

LM Wind Power cut jobs and idled production last year, as market volatility drove the Danish blade-maker to its second straight annual loss.

In response to the sluggish market last year, LM says it cut 180 jobs in North America – most likely at its blade facility in Grand Forks, North Dakota – in addition to “temporarily” halting production at a plant in Urumqi, China, and scaling-back output at its largest factory at Ponferrada, Spain.

LM narrowed its annual loss to €117m ($154.1m) from a deficit of €362m the year prior, but its pre-tax earnings tumbled more than 40% due to a “variety of unexpected headwinds” in key markets.

Revenues fell a gentler 3% to €707m,…

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