REpower announces plans to streamline organization

(PresseBox) ( Pune/Hamburg, )
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- Cost reduction of EUR 100 million to be realised by FY13/14
- Savings potential identified in purchasing, production and manufacturing
- Total employees likely reduced by up to 750 worldwide

REpower Systems SE, a leading manufacturer of onshore and offshore wind turbines and part of the Suzlon Group, announced today that it was streamlining the organization to be a leaner, more efficient and competitive company. Andreas Nauen, CEO - REpower Systems SE, said: "The plans I am announcing will allow REpower to better meet today's challenges and prepare for tomorrow's opportunities, particularly in the offshore segment. Whilst the long-term outlook for the sector remains strong, the mid-term outlook is expected to remain uncertain and volatile, and we need to prepare for that."

Moving forward, all REpower's central functions will be arranged globally. Nauen adds: "This is a pre-requisite for being able to react to market conditions more quickly and with greater flexibility. Only in this way will we remain a reliable partner with products tailored to meet our customers' requirements."

In addition, the company has to realize cost savings of around EUR 100 million in the 2013/14 financial year also with effects to following years thereby ensuring a solid economic base. The focus here is on measures for strengthening the efficiency and hence the future viability of REpower. "We will apply leverage wherever we have recognized need for action and will be able to realize savings potential for example in purchasing, production or manufacturing," says Nauen. "We have set up a package that will allow REpower to draw on its own strengths to remain a top-quality provider in the wind energy market. We will therefore continue to invest in innovation and hence in our future."

In the course of re-organization, there will be up to 750 job cuts throughout the entire company as one of these measures. "This is a painful but necessary development," Nauen continues. "We plan to keep compulsory redundancies to a minimum." He states that REpower will work together with the employee representatives in order to do everything to find fair, socially acceptable solutions for those affected by these cuts. The number of enforced redundancies is to be kept as low as possible by means of natural fluctuation, financial incentives for contract termination agreements and expiring fixed-term employment contracts.

About Suzlon Group:

The Suzlon Group is ranked as the world's fifth largest* wind turbine supplier, in terms of cumulative installed capacity and marketshare, at the end of 2012. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with approximately 22,000 MW of wind energy capacity installed, operations across 32 countries and a workforce of over 13,000. The Group offers one of the most comprehensive product portfolios - ranging from sub-megawatt onshore turbines at 600 Kilowatts (KW), to the world's largest commercially-available offshore turbine at 6.15 MW - with a vertically integrated, low-cost, manufacturing base. The Group - headquartered at Suzlon One Earth in Pune, India - comprises Suzlon Energy Limited and its subsidiaries, including REpower Systems SE. Visit us at www.suzlon.com

Source: *BTM Consult ApS - A part of Navigant Consulting - World Market Update 2012.
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