Flender/Flender Gear Units/Helical speed reduction gearboxes H2
ate . We did not identify clear policy or market changes that would have resulted in such change. Figure 2:

.. wind generators and parts imports Source: Source: BloombergNEF, USITC, Berkeley Lab. Note: Data derived from Berkeley Labs estimates. Some

data is based on trade categories that are not all exclusive to wind. Gearboxes Over half of all gearboxes imported

to the .. came from China, which is also the only country to host factories from all three of the

worlds major standalone gearbox anufacturers ZF Wind, Flender, and NGC ( Figure . It is unclear what manufacturer provided large portion of .. imported gearboxes from China 2 due to trade data shortcomings. BNEF believes NGC supplied the majority of th ese. Europe is the second largest exporting hub thanks to plants operated by ZF Wind in Germany and Flender in Belgium. Vestas does not itself make gearboxes but procures them from European suppliers then exports. India will soon have three major gearbox akers once NGC commissio ns its new plant there. 3 3 3 3 2 2 2 2 2 2$ million, 2 real Others Japan Spain Serbia Germany Vietnam China Mexico Wind Trade And Manufacturing February 2 Bloomberg Finance .. 2 No portion of this document may be reproduced, scanned into an electronic system, distributed, publicly displayed or used as the basis of derivative works without the prior written consent of Bloomberg Finance .. For more information on terms of use, please contact sales.bnef Siemens Flender bloomberg.net. Copyright and Disclaimer notice on page 2 applies thro ughout. 1 Figure 2: Unit imports of gearboxes to the .. by location plant, 2 Source: BloombergNEF. Note: Data is based on bill of lading , custom declaration, and cargo mani fest relevant to GE, Vestas, and Siemens Gamesa. Vestas does not manufacture gearboxes, but procures them from Europe and ships them to the .. Data might not be entirely complete due to lack of disclosure associated with some imports .