© darren baker dreamstime.com Electronics Production | March 03, 2016
KK Wind Solutions scales down focus on China
The Danish company's withdrawal from Chinese joint venture aim to allow a more focused effort on more profitable markets.
With an annual result of DKK 178.7 million (EUR 23.96 million) before tax compared to DKK 104 million (EUR 13.94 million) the previous financial year, the KK group shows a good and stable development. However, out of the DKK 178.7 million (EUR 23.96 million), DKK 75 million (EUR 10.05 million) have been realised partly through the withdrawal from the Chinese joint venture company – Chongqing kk-Qianwei Windpower Equipment – since, for the time being, the group has chosen to put its main focus on other markets with larger potential for the KK group. In addition to this, the sale of the subsidiary ELOCIC A/S has contributed to the increase in annual result. The sale of ELOGIC A/S together with the exit from the Chinese joint venture mean that the KK group has intensified its focus on strategic key markets, which thereby provides a solid take-off for the ambitious growth plans the coming years. “We have significant ambitions of growth – especially within the service area. Moreover, we focus a lot on innovation and business development. However, with the ambitious, still realistic plans we have made for the next three-year period, I am sure we will reach our targets,” says Tommy G. Jespersen, CEO, KK Wind Solutions.