The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
South East; Hampshire and Isle of Wight; Isle of Wight
Location of affected unit(s)
Newport, Isle of Wight
Sector
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
380 jobs Number of planned job creations
Announcement Date
20 November 2018
Employment effect (start)
Foreseen end date
Description
Danish owned MHI Vestas has announced plans to create 380 new jobs at its site on the Isle of Wight. The jobs, which will be concerned with the manufacture of turbine blades, are necessary given the UK's intention to increase the share of its energy generated through wind power. Along with the jobs which will be created directly, economic forecasts suggest that a further 720 indirectly created jobs will result from this investment.
A previous restructuring took place in 2015, when 200 jobs were created at the site.
Sources
Citation
Eurofound (2018), MHI Vestas, Business expansion in United Kingdom, factsheet number 96065, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96065.
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