Bloomberg News

Vestas Firing Workers at Second Colorado Wind-Turbine Plant

August 21, 2012

Vestas Wind Systems A/S (VWS), the world’s largest producer of wind turbines, fired about 30 workers at a factory in Brighton, Colorado, its second round of job cuts in the state since last week.

Vestas, based in Aarhus, Denmark, is cutting its workforce as the looming expiration in December of a federal tax credit slows demand for turbines in the U.S., Andrew Longeteig, a company spokesman, said today in an e-mail.

The company fired about 90 workers at a plant in Pueblo, Colorado, Aug. 13. It still has about 3,000 employees in the U.S. and Canada. Chief Executive Officer Ditlev Engel said in January that as many as 1,600 U.S. jobs are at risk if lawmakers don’t extend the production tax credit.

“We’re continuing to see Colorado’s economy pay the price for Congress’s inaction on the wind PTC,” Senator Michael Bennet, a Colorado Democrat, said in an e-mailed statement. “It’s costing us jobs.”

Mitt Romney, the presumptive Republican presidential nominee, has said he opposes extending the tax credit of 2.2 cents a kilowatt-hour for electricity produced by wind, biomass, geothermal and landfill-gas plants, while President Barack Obama is supporting it. The firings in Brighton were first reported by the Boulder County Business Report.

Vestas shares rose 5.6 percent to 33.94 kroner in Copenhagen today, the highest since June 1.

To contact the reporters on this story: Christopher Martin in New York at cmartin11@bloomberg.net; Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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