Broadwind Energy Announces $6 Million in New Gearing Orders
October 01 2015 - 7:00AM
Broadwind Energy, Inc. (NASDAQ:BWEN) today announced $6 million in
new gearing orders to be produced by its Brad Foote Gear Works,
Inc. subsidiary.
Broadwind President and CEO Peter Duprey stated, “As the fleet
of more than 48,000 wind turbines installed in the U.S. starts to
age, we are seeing growing opportunities for replacement wind
gearing which is helping to offset weak oil and gas and mining
orders.”
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,
oil and gas and mining applications, to wind towers and specialty
weldments, to comprehensive remanufacturing of gearboxes and
blades, to operations and maintenance services, we have solutions
for the energy needs of the future. With facilities throughout the
U.S., Broadwind Energy's talented team of nearly 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.
BWEN INVESTOR CONTACT: Joni Konstantelos, 708.780.4819 joni.konstantelos@bwen.com
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