Archive for August 24th, 2012
LM Wind Power Lays Off U.S. Workers Despite Government Loan Guarantee to Back Their Jobs
August 24th, 2012 | 
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Just days after a mostly foreign-based wind energy equipment manufacturer received a multimillion-dollar federal loan guarantee from the U.S. Export-Import Bank, the company pink-slipped more than 200 American workers. The loan transaction in question involved a Brazilian firm, Wind Power Energia S.A., in Sao Paulo, which required wind blades to complete a 180-megawatt wind farm in the Brazilian state of Bahia and another 211-megawatt farm in the Brazilian state of Ceara, according to company officials.
According to Ex-Im Bank officials, the export credit agency authorized a $32.1 million loan guarantee to Wind Power Energia to buy wind turbine blades manufactured by LM Wind Power Blades Inc., in Little Rock, Ark. Read the rest of this entry »
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