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Moventas, a supplier of wind turbine gears and industrial gears, will invest an additional 100 million euros in wind turbine gear production. This will provide almost 300 additional jobs and two new production sites in Finland and the U.S.

The new Moventas plant will be in Faribault, Minn., and will employ about 100 employees, who will work primarily in assembly and testing.

"The decision to invest is a strong signal that Moventas wants to capture the growth of the business and to meet customer demand," says Ilkka Hakala, CEO and president of Moventas. "Expansion of production in North America is a significant step closer to our customers, and it strengthens our ability to meet the after-sales service demands in the market."

Ground breaking for the new sites in the U.S. and Finland will start this fall, and production is expected to start at the end of 2009. Full capacity is estimated from the beginning of 2011, according to the company.

SOURCE: Moventas

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