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

                               |

                               |

                   -----------------------

                   |                      |

                   |                      |      

         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