REpower Annual General Meeting elects Girish Tanti and Kirtikant Vagadia to the Supervisory Board
Today's Ordinary General Meeting of REpower Systems AG elected Messrs Girish Tanti and Kirtikant Vagadia, both members of various management bodies of Indian company SUZLON, a major shareholder in REpower, to the Supervisory Board to replace former members Bertrand Durrande and Prof. Fritz Vahrenholt, who retired their offices in June and July 2008 respectively.
In line with the recommendation of the management, the Annual General Meeting voted against paying a dividend so that the balance-sheet profit generated in financial year 2007 and the short financial year 2008 will remain in the Company to finance its planned growth. The actions of the Executive Board and the Supervisory Board were approved for both financial years nearly without any dissenting vote.
In addition to an explanation of the development of the business and key financial figures, the Executive Board had some encouraging news to report: the announced acquisition of the assets of long-term logistics partner Schaumann, which had originally planned to suspend operations, was concluded successfully.
The more than 30 employees of the company will now be transferred to WEL Windenergie Logistik GmbH, a wholly owned subsidiary of REpower.
REpower Systems AG is one of the leading manufacturers of onshore and offshore wind turbines. The international engineering company develops, produces and sells wind turbines with outputs ranging from 2 to 5 megawatts and rotor diameters of 82 to 126 metres for almost all locations. It also provides a comprehensive service and maintenance range. The high performance, reliable turbines are designed at the REpower development centre in Rendsburg and produced at the sites in Husum (North Frisia) and Trampe (Brandenburg).
Listed on the stock exchange since March 2002 and with more than 1,300 employees worldwide, the Hamburg-based company relies on its experience in the production and installation of almost 2,000 wind turbines. REpower is represented in European markets such as France, the United Kingdom, Italy, Portugal and Spain and in the international markets of the US, Japan, China and Australia through its sales partners, subsidiaries and investments.