A-Power Energy (APWR) Retracts GE Statement, Is Confident In Partnership
A-Power Energy (APWR) is retracting a statement it made during its last earnings conference call regarding their joint venture with General Electric (GE) and the wind turbine gearbox being designed by GE for APWR. During the call the CEO said they were in talks to buy GE China’s interest in their joint venture that makes wind turbine gearboxes, and would terminate a related supply deal with the U.S. firm. Now the company is retracting the statement saying they have no questions regarding the ability of GE to produce high quality wind turbine gearboxes and regret any impressions to the contrary. I’ve talked a lot about APWR management regaining credibility .. they’re off to a slow start.
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