Newspaper Kaleva reports that according to employee representatives, wind turbine maker WinWinD is having liquidity problems. The company was unable to pay the full amount of wages and according to Kaleva the company has also been unable to pay the State Earnings Related Pension Scheme payments since last year.
Co-determination negotiations concerning the entire remaining Finnish personnel were started in the beginning of this month. The company has around 100 people left in its former home of Oulu, some 60 people at its Espoo headquarters and a similar amount in Hamina factory. The majority of the company personnel now work in a 1000MW factory in Vengal, India. The other manufacturing site in Finland in the town of Ii was shut down couple years ago.
WinWinD offers 1MW and 3MW turbines coupled with services contracts either as a part of a project of in full turn-key model. The company is majority owned by Chennai-based Indian company Siva Ventures of the industrial conglomerate Siva Group headed by Chinnakannan Sivasankaran. WinWinD was originally founded by a Finnish engineer Jouko Tiuraniemi. Finnish government-owned Finnish Industry Investment Ltd is has a minority stake. Subsidies from the government have been helping the company to create its global presence.
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