Mita-Teknik suffers from Chinese downturn

For the first time ever, wind subcontractor Mita-Teknik has exited a fiscal year with a deficit. China dealt a serious blow to the company.

Photo: Frank Boutrup Schmidt/Vestas

Equity fund-owned Mita-Teknik, which is a subcontractor to the wind industry, was showing signs as early as last year that things might be headed in the wrong direction.

Back then, results were flat-lining despite rising revenue, described as "unsatisfactory" in the financial report. The firm attributed it to mounting pressure on the Chinese market.

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