Greater competition will likely cut Sinovel Wind's 2011 earnings

01/30/2012 | Bloomberg

Wind turbine-maker Sinovel Wind Group expects its 2011 earnings to decrease by more than half as prices slumped because of increased competition in domestic and global markets. While "margins are getting squeezed" because of the decision by U.S. and European wind turbine manufacturers to lower costs, China's lower labor costs and state incentives make Sinovel more competitive than its Western counterparts, said Aaron Chew, an expert with Maxim Group.

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