First Finnish company joins community of Global Growth Companies

Richard Elliott, Senior Media Manager, Tel.: +41 (0)22 869 1212 – richard.elliott@weforum.org

Finnish

• Moventas joins World Economic Forum’s Community of Global Growth Companies (GGC)
• Community consists of 200 rapidly growing emerging multinationals
• Watch the interview with Jukka Jäämaa, President of Moventas
• For more on the GGCs: http://www.weforum.org/globalgrowthcompanies
• For more on Moventas: http://www.moventas.com

Geneva, Switzerland, 16 April 2009 – Moventas has become the first Finnish Member of the World Economic Forum’s Community of Global Growth Companies. One of the leading global manufacturers of wind turbine gears and mechanical drives, Moventas has been invited to join the Community because of the company’s outstanding business record and its commitment to the Forum’s mission to improve the state of the world through a multistakeholder approach to problem solving, which is essential at this time of economic turmoil.

“Moventas is extremely proud to be nominated the first Finnish Member of the Community of GGCs,” said Jukka Jäämaa, President and Chief Executive Officer of Moventas. “Our growth has been very strong and we also have high expectations on the future. Wind energy can be considered as one of the sustainable solutions to meet the increasing global energy demand and simultaneous reduction targets of carbon dioxide emissions.”

The company has fulfilled the criteria to become a GGC Member, namely:
• Expanding outside its traditional boundaries
• Extremely strong growth rate (31% in 2008)
• Demonstrated leadership in a particular industry
• Outstanding executive leadership

In 2008, Moventas generated net sales of 382 million euros, representing 31% growth over the previous year. The company designs, manufactures and markets solutions and services for the wind power, energy and process industries. Moventas has over 1,300 employees in eight countries globally with a worldwide partner network. European private equity investor IK Investment Partners holds the majority of the shares in Moventas.

Moventas expects the GGC Community to work as a platform for influencing future trends and technology development on a global scale. Moventas also expects to gain from the experiences of other GGC Members, especially in managing fast growth and expanding business to new geographical areas.

The Community of Global Growth Companies is composed of rapidly growing emerging multinationals. It was founded in late 2007 and currently has 200 Members globally from all sectors. The Community was created to recognize the next generation of industry leaders. It supports them as they navigate new geographies, markets, cultures and regulatory systems to become a major driving force in social and economic development.

The GGCs, Technology Pioneers and Young Global Leaders are the three pillars that form the Forum’s Community of New Champions. Members of this Community have opportunities to come together at all Forum regional meetings as well as at the Annual Meeting of the New Champions, which will be held this year in Dalian, People’s Republic of China, on 10-12 September (http://www.weforum.org/en/events/AnnualMeetingoftheNewChampions2009).

____________________________________________
 
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.

Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests (http://www.weforum.org).