Windflow Technology calls time on turbine manufacturing, sells UK assets to biggest shareholder

Thu, 14 Sep 2017

By Jonathan Underhill Sept. 14 (BusinessDesk) - David Iles, a US shareholder of Windflow Technology who bankrolled its UK activities, will take control of the unprofitable turbine maker and forgive some $21 million of loans in exchange for the company's UK subsidiaries. The announcement was made with Windflow's annual results, which showed a wider loss of $4.3 million in the year ended June 30 and an acknowledgment that its seven-year investment in the UK market "has not paid off", with the eight turbines in operation far below expectatio...

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