A-Power Energy subsidiary acquires rights for Norwin wind turbines
30th January 2008
By Staff Writer
Distributed power generation solutions provider A-Power Energy Generation Systems has announced that its Chinese operating subsidiary, Liaoning GaoKe Energy Group, has entered into an agreement with Danish wind turbine maker Norwin, which gives GaoKe the exclusive right to produce and sell Norwin’s 750kW and 225kW wind turbines in China.

As part of the agreement with Norwin, a joint venture (JV) company will be established in Shenyang, China that will be 80% owned by GaoKe. This JV will begin selling the 750kW and 225kW wind turbines later in 2008, after construction is completed on the first phase of GaoKe’s new wind turbine production facility.

GaoKe and Norwin will also establish a joint research and development facility in Shenyang to develop new wind turbine technology for both the Chinese and international markets.

To secure the rights, GaoKe has agreed to pay Norwin a license fee of $3.5 million. The sale price of the 225kW wind turbine has not yet been determined, but the 750kW wind turbine is expected to sell for $0.46 million to $0.51 million, with approximately 8% to 12% gross margin.

GaoKe will have the capacity to produce a maximum of 420 units of 750kW wind turbines and 400 units of 225kW wind turbines on an annual basis after the first phase of its wind production facility is completed.

Its all about the FEAR for Americans, they really are NOT in that bad of shape, but the media tells you its bad, well, it MUST be BAD!!! Its not that bad but the media is 24/7 horrible fear induced news.

The survey suggests that the psychological impact of bad times, rather than an actual decline in people’s financial conditions, is the principal driver of these cutbacks and reconsiderations.

Nearly six-in-ten (59%) of those who say they are cutting back or delaying purchases report they are doing so because they worry things might get worse. Just 28% say they are cutting back because their financial situation has gotten worse.

Worry is the overwhelming factor in spending cutbacks being made by more affluent consumers: 72% of those with family incomes of $75,000 or more per year cite concerns about what might happen as a reason for their intended cutbacks. Among less affluent people the fear factor still predominates, but many more people cite an actual worsening of their situation as a reason for cutbacks.