U.S. Turbine Blade-Making Plant to Layoff Majority of Work Force

Posted: 27 Nov 2009 02:11 PM PST

Gamesa (HQ in Spain) blames one of the important reasons many U.S. manufacturers in other industries have too: Banks unwilling to extend credit or new loans to developers trying to launch new wind projects.

So, this new movement of tooling up and transitioning from auto-dependent to a brighter, more promising “Green Energy” market isn’t materializing as smoothly as we thought.

Why aren’t these banks lending to sustainable energy programs? I thought this was supposed to be the future of America’s resurgence in manufacturing. We know banks are turning cold shoulders to those connected to the auto industry. Where’s the Obama camp on this one?

The affected plant is an hour outside Pittsburgh and will officially impact 141 of the 238 union positions within the Gamesa facility.

Source: Tool and Die