Sandie Seward
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IOW Wind Turbine plant to close. 450 more jobs lost.Wind turbine-maker Vestas Wind Systems is to cut 1,900 jobs - mainly in the UK and Denmark - despite reporting a 70% rise in quarterly profits.
It will be closing its UK turbine plant on the Isle of Wight, cutting 450 jobs.
The Danish firm blamed the headcount reduction, which represents 9% of its workforce, on market oversupply.
It came as Vestas reported a net profit of 56m euros ($73m; £50m) for the first three months of 2009, up from 33m euros for the same period last year.
The company also said it planned to raise funds through a share issue.
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