New Name For American Superconductor
As it reorganizes in the wake of losing its biggest customer, American Superconductor Corp. of Devens has changed its name to reflect the fact that it does not operate primarily in America, and that it isn't mainly a superconductor business.
The company said it is now doing business as AMSC, with the new tagline "smarter, cleaner... better energy."
The company's wind and electricity grid products are now branded as Windtec Solutions, which provides controls, design and support for wind turbine manufacturers, and Gridtec Solutions, which offers engineering planning services to support electricity generation, transmission and distribution.
The company is also introducing a new system, Wind-RT, for connecting wind turbines to the grid. The product is being unveiled today at China WindPower 2011 in Beijing and is designed to help existing Chinese wind turbines meet the country's new standards.
In April, American Superconductor lost the business of Chinese wind power company Sinovel Wind Group Co. Ltd., which had accounted for 70 percent of its revenues. Since then, company founder and CEO Greg Yurek has retired, and the company has laid off 30 percent of its employees.
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