Broadwind Energy Wins Additional $27 Million in Tower Orders
CICERO, Ill.--(BUSINESS WIRE)-- A U.S. wind turbine manufacturer has selected Broadwind Energy, Inc. (NAS: BWEN) to supply approximately $27 million of wind towers for delivery in 2013. The towers will be produced in the Company's Manitowoc, WI and Abilene, TX facilities.
Peter C. Duprey, president and CEO of Broadwind Energy, Inc., stated, "It is nice to see orders begin to flow as a result of the extension of the Production Tax Credit (PTC). With the PTC renewal modified to include projects that commence construction by the end of the year, we expect better order visibility. We continue to be optimistic about the tower business."
About Broadwind Energy
Broadwind Energy (NAS: BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears and gearing systems for wind, oil and gas and mining applications, to wind towers, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services and industrial weldments, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy's talented team of 800 employees is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com.
This release includes various forward-looking statements related to future, not past, events. Statements in this release that are not historical are forward-looking statements. These statements are based on current expectations and we undertake no obligation to update these statements to reflect events or circumstances occurring after this release. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: expectations regarding our business, end-markets, relationships with customers and our ability to diversify our customer base; the impact of competition and economic volatility on many of the industries in which we compete; our ability to realize revenue from customer orders and backlog; the impact of regulation on our end-markets, including the wind energy industry in particular; the sufficiency of our liquidity and working-capital; our restructuring plans and the associated cost-savings; our ability to preserve and utilize our tax net operating loss carry-forwards; and other risks and uncertainties described in our filings with the Securities and Exchange Commission.
Broadwind Energy, Inc.
John Segvich, 708.780.4825
KEYWORDS: United States North America Illinois
The article Broadwind Energy Wins Additional $27 Million in Tower Orders originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.