GE pulls competitors down with it

The forecast of price pressure in GE's quarterly accounts has prompted the share to decline for Siemens Gamesa and Vestas.

Photo: GE

The market value of wind turbine manufacturers has dived Tuesday after the report from the company's major US competitor, General Electric, has created concern about market price squeezes.

"The report from GE shows a 3 percent decline on an annual basis in the order intake within renewables, and this looks set to show lower prices and a squeeze on margins. This has renewed concerns about a price squeeze in the market which is pulling Vestas down with it," says chief negotiator Mads Zink from Danske Bank to Ritzau Finans.

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