Excellent results were also achieved on the ongoing major projects in the offshore wind turbines and industrial construction niche markets. For instance, the heavy lift vessel Svanen was extremely well utilized in 2012 on three offshore wind turbine projects in Denmark and the United Kingdom, and the Nuon Magnum multifuel power plant project will be completed in the first half of 2013.The regional companies incurred losses in 2012. A previous capacity reduction of 20% in late 2011 was followed in 2012 by a further 50% adjustment. This means that in the space of one-and-a-half years the workforce has contracted from over 500 to around 200. This adjustment is many times larger than the fall in volume in the market. It is therefore a strategic choice to abandon the regional procurement market for smaller traditional contracts, and to focus instead on the larger, more integrated projects. Accordingly there will be less exposure to this loss-making market.
Ballast Nedam Annual Figures For 2012: Tough Year, Firm Intervention, Accelerated Profile Change
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