Bloomberg News

Morphic Slumps After Rival Vestas Wind Receives Order

May 26, 2008

Morphic Technologies AB (MORPB), the Swedish developer of technology for the wind industry, declined on the Stockholm bourse after it lost out on an order to Danish competitor Vestas Wind Systems A/S. (VWS)

Morphic sank 0.9 krona, or 7 percent, to 12.05 kronor, the most in two months, giving the Gothenburg-based company at market value of 1.8 billion kronor ($300 million).

Vestas Wind Systems, the world's largest maker of wind turbines, won an order from Arise Windpower AB for 12 windmills, Arise said in a release on its Web site today. No value for the contract was provided. The company didn't say who else had submitted a bid to win the contract.

``It would be strange if we weren't bidding for all major wind contracts in Sweden, but we don't comment on specific wind park orders,'' Johannes Falk, a spokesman for Morphic, said in a telephone interview today.

To contact the reporter on this story: Jakob Lindstroem in Stockholm at jlindstroem@bloomberg.net.

To contact the editor responsible for this story: Daniel Hauck at dhauck1@bloomberg.net.


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