NORDEX AG: Company Profile
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NAME: Nordex AG
ADDRESS: Bornbarch 2
22848 Norderstedt
NORDEX ENERGY GMBH (DMR)
Erich-Schlesinger-Str. 50
18059 Rostock
Phone: ++49 - 381-4020 -300
Fax: ++49 - 381-4020 -339
E-mail: info@nordex-online.com
NORDEX ENERGY GMBH (GVZ)
Rotorblade Factory
Grosse Rampe 3
18146 Rostock
Germany
Phone: ++49 - 381-4020 -400
Fax: ++49 - 381-4020 -444
E-mail: info@nordex-online.com
PHONE: ++49 - 40 - 500 98 100
FAX: ++49 - 40 - 500 98 101
EMAIL: info@nordex-online.com
WEBSITE: http://www.nordex-online.com/
TYPE OF BUSINESS: The Nordex Group is one of the world’s leading suppliers of wind turbines. It was launched in 1985, before the international demand for wind turbines increased in the first half of the nineties. One of the founding members is today's Sales Director, Carsten Pedersen. From the outset, Nordex focused on large, powerful turbines. It has produced the largest wind turbine in the world, the Nordex N80/2500 kW and the powerful megawatt turbines Nordex S70/1500 kW and Nordex S77/1500 kW.
SIC: Technology - Diversified Electronics
EXECUTIVES:
(a) Managing Board
Thomas Richterich, Spokesman of the board and CFO
Carsten Pedersen, Sales
Dr. Hansjorg Mueller, Production, procurement, project management,
service and quality
(b) Supervisory Board
Jens-Peter Schmitt, Chairman of the Supervisory Board, attorney
Haan
Dr. Hans Fechner, Supervisory Board Management Member,
Director Siempelkamp GmbH
Flemming Pedersen, Supervisory Board Director of Brande
Investerings & Finanzierungsselkas, Give
(Denmark)
Hans Berger, Member of the Supervisory Board
Deputy Chairman of the Management Board of Landesbank
Schleswig-Holstein, Kiel
Dr. Gerd Jager, Member of the Supervisory Board
Member of the Management Board of RWE Power AG,
Essen
Bernd Sattig, Member of the Supervisory Board Management
Consultant, Leonberg
NUMBER OF EMPLOYEES: 689 (as of Dec. 31, 2004)
ASSETS: EUR186.382 million (year ending Dec. 31, 2004)
DEBTS
Bank debt: EUR37.566 million (as of 2004)
Other liabilities: Tax liabilities of EUR3.356 million
COMPANY STRUCTURE:
NORDEX AG
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Nordex Energy GmbH NPV Planung und Vertrieb GmbH
(100%) (100%)
Nordex Energy Equipment natcon7 GmbH (75%)
Services Co. Ltd., China NPV Windpark Verwaltung
(100%) GmbH (100%)
Xl'an Nordex Wind Turbine Nordex Energy B.V. (100%)
Co. Ltd., China (40%) - Nordex U.K. Ltd. (100%)
- Nordex France SAS (100%)
Nordex Hellas - Nordex Energy Iberica S.A.
(100%)
Monoprosopl EPE (100%) - Nordex U.S.A. Inc. (100%)
THE TROUBLE: Weak capacity utilization was particularly to blame for Nordex's sustained operating losses in the stub fiscal year. The company had consolidated cumulative loss of EUR33.457 million for the period Oct. 1, 2003 to Sept. 30, 2004. To reinforce its equity and debt capital situation on a sustained basis, Nordex is implementing a comprehensive recapitalization plan. It projects return to profit-making territory by 2006.
MAJOR SHAREHOLDERS
CMP Fonds I GmbH - 44.25%
Goldman Sachs Equity Markets L.P. - 22.90%
Nordvest A.S. - 6.042%
West LB AG - 3.31%
AUDITOR: ERNST & YOUNG AG WIRTSCHAFTSPRUFUNGS KESEUSCHAFT
Uerdinger Strasse 88 Dusseldorf
40474
Germany
ERNST & YOUNG AG
Aeschengraben 9, Postfach, 4002 Basel
Phone: (+41) 58/286 83 20