Broadwind Energy Announces $34 Million in New Tower Orders
July 24 2014 - 7:00AM
Broadwind Energy, Inc. (Nasdaq:BWEN) today announced $34 million in
new tower orders from a U.S. wind turbine manufacturer. Broadwind
will produce these towers in its Manitowoc, WI facility.
Broadwind President and CEO Peter Duprey stated, "With these
orders, approximately two-thirds of our tower production capacity
for 2015 is sold. We are currently in late stage discussions to
fill the remaining 2015 tower capacity and have started discussions
for additional commitments into 2016 and beyond. We are confident
in the continued demand for wind energy assets in the U.S."
About Broadwind Energy, Inc.
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, steel, 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 over 800 employees is committed to helping customers
maximize performance of their investments – quicker, easier and
smarter. Find out more at www.bwen.com
Forward-Looking Statements
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 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, including
those contained in Part I, Item 1A "Risk Factors" of our Annual
Reports on Form 10-K.
CONTACT: BWEN INVESTOR CONTACT:
Joni Konstantelos, 708.780.4819
joni.konstantelos@bwen.com
LHA CONTACT:
Jody Burfening/Carolyn Capaccio, 212.838.3777
ccapaccio@lhai.com
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