Wind Stock Alert: Broadwind Energy (NASDAQ: BWEN) Wins $34 Million Tower Order
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CICERO, Ill. - April 29, 2013 (Investorideas.com renewable energy newswire) Broadwind Energy, Inc. (NASDAQ: BWEN) today announced a $34 million order for towers from a U.S. wind turbine manufacturer. Broadwind will produce these towers in its Abilene, Texas facility with delivery scheduled to begin in fourth-quarter 2013 and extend into 2014.
"This order starts to fill the capacity in our Abilene facility into 2014,” said Peter Duprey, Broadwind Energy’s president and CEO. "This provides our tower business with better visibility further into the future. We continue to be pleased with the demand for domestically produced wind towers in the United States."
About Broadwind Energy
Broadwind Energy (NASDAQ: 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.
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