LM Wind Power, a subsidiary of GE Vernova, announced it will close its turbine blade factory in Suape, Brazil, impacting approximately 1,000 jobs. The company attributed the closure to declining demand in the Latin American market.
A company spokesperson stated, “Due to declining demand in the Latin American market, our LM Wind Power blade factory in Suape, Brazil, will cease operations. This was a difficult decision, and we are fully committed to supporting our impacted employees and will do everything we can to provide them with comprehensive severance and transition benefits.”
The closure is part of LM Wind Power's efforts to adjust its operations in response to market conditions. The company outlined several measures to assist employees affected by the shutdown, including severance pay, continued benefits for a defined period, career transition services, and outplacement support.
The decision reflects broader industry challenges as companies navigate shifts in regional demand.
