Vestas’ new corporate strategy “Profitable Growth for Vestas,” presented as part of the disclosure of the 2013 annual results on February 4th, entails a detailed plan for the company to further build on the successful turnaround and continuously increase profitability.
One of the strategic objectives in “Profitable Growth for Vestas” is to “Improve Operational Excellence,” which will be achieved through, among other initiatives, site consolidation and simplification of Vestas’ geographical footprint. As part of this site consolidation, Vestas has today announced that it intends to sell one of its buildings located at Hedeager in Aarhus and that a number of commercial functions are expected to be relocated from Aarhus to Copenhagen during the second half of 2014.
Vestas headquarters and the CEO office will remain in Aarhus.
The commercial functions selected for relocation are: Global Sales; Global Marketing, Communications & Corporate Relations; and, Finance (excluding IT). All employees working in the affected functions will be offered to relocate to Copenhagen.
These functions have been selected for relocation as they require a closer proximity to some of Vestas’ key stakeholders, such as, customers, financiers, investors, politicians, media, agencies, etc. The relocation will also enable more efficient travel in and out of Copenhagen Kastrup Airport.
The total amount of relocated positions is expected to be around 200, which is less than 15% of the total Vestas workforce in Aarhus. This relocation is expected to increase Vestas’ flexibility, free up cash and generate savings of approximately EUR 10M per year once this process is completed.
The relocation to Copenhagen is expected to start on 1 August 2014 and to be finalised by 31 December 2014.
Vestas’ new office location in Copenhagen is expected to be at Hedegaardsvej 88, 2300 Copenhagen S.
Every single day, Vestas wind turbines deliver clean energy that supports the global fight against climate change. Wind power from Vestas’ more than 51,000 wind turbines currently reduces carbon emissions by over 60 million tons of CO2 every year, while at the same time building energy security and independence.
Vestas has delivered wind energy in 73 countries, providing jobs for around 16,000 passionate people at our service and project sites, research facilities, factories and offices all over the world. With 62 per cent more megawatts installed than our closest competitor and more than 60 GW of cumulative installed capacity worldwide, Vestas is the world leader in wind energy.