Broadwind Energy Completes Sale of Services Assets
December 15 2015 - 9:52AM
Broadwind Energy, Inc. (NASDAQ:BWEN) today announced that it has
completed the sale of a majority of the assets of its Services
business to RENEW Energy Maintenance, LLC. RENEW Energy
Maintenance, LLC is the service subsidiary of RENEW Energy, Inc. an
employee owned company based in Sioux Falls, SD.
Broadwind interim CEO Stephanie Kushner stated, “We are pleased
to conclude this asset sale and we thank our Services employees for
their hard work and dedication. During a period of significant
uncertainty, the Services team did an outstanding job delivering
high-quality service while maintaining their commitment to safety.
The conclusion of this transaction allows us to better focus on our
core business. We will continue to manufacture gearing within our
Gearing Segment and believe this will lead to greater opportunity
to support a wide range of wind turbine gearbox manufacturers and
repair service companies.”
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 industrial weldments, we have solutions for the energy
needs of the future. With facilities throughout the central U.S.,
Broadwind Energy's talented team of over 750 employees is committed
to helping customers maximize performance of their
investments—quicker, easier and smarter. Find out more at
www.bwen.com
BWEN INVESTOR CONTACT: Joni Konstantelos, 708.780.4819 joni.konstantelos@bwen.com
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