Vestas Wind Systems A/S will cut costs and may reduce jobs if its order intake doesn’t improve “in coming months,” chief executive Ditlev Engel said today in a telephone conference.
Orders from the U.S., the largest wind-turbine market, “came to a standstill” after the collapse of Lehman Brothers Holdings in September tightened credit for wind-farm developers, Engel said in New York after announcing that fourth-quarter profits had doubled.
Denmark-based Vestas last year announced that its Colorado employment will grow to 2,500 by 2010 at a series of manufacturing plants in Windsor, Brighton and Pueblo.
The plants will build the towers, blades and control centers for wind turbines used in utility-scale wind farms.
Bloomberg News contributed to this report.
