Suzlon Energy has announced the filing of voluntary liquidation of its Brazilian subsidiary Suzlon Energia Eólica do Brasil.
The Indian manufacturer said it had take the decision after “carefully considering all options and as a consequence of multiple factors that are unique to Brazil”.
The Brazilian subsidiary was established in 2006, the company said.
It added that the decision does not “alter Suzlon’s global operations strategy”.
A company spokesperson said: “We believe that this is a responsible decision for the benefit of long-term sustainability of the company and its shareholders.”
Image: Suzlon
Suzlon shuts shop in Brazil
Indian outfit says decision decision follows ‘carefully considering all options'
By EBS