Broadwind Energy Announces $34 Million in New Tower Orders
May 12 2016 - 7:00AM
Broadwind Energy, Inc. (NASDAQ:BWEN) today announced $34 million in
new tower orders from two U.S. wind turbine manufacturers.
Broadwind will produce these towers for delivery in 2016 and 2017.
Broadwind interim CEO Stephanie Kushner stated, “The outlook for
the wind industry in the U.S. has strengthened over the past few
months with the extension of the PTC and the release of the latest
IRS guidelines which provide specific guidance supporting new
windfarms. The employees at our Manitowoc and Abilene plants are
producing high-quality towers to help meet this demand.”
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 is committed to helping customers maximize
performance of their investments—quicker, easier and smarter. Find
out more at www.bwen.com
Forward-Looking StatementsThis release contains
“forward‑looking statements”, as defined in Section 21E of the
Securities Exchange Act of 1934, as amended. Forward‑looking
statements include any statement that does not directly relate to a
current or historical fact. Our forward-looking statements may
include or relate to our beliefs, expectations, plans and/or
assumptions with respect to the following: (i) state, local and
federal regulatory frameworks affecting the industries in which we
compete, including the wind energy industry, and the related
extension, continuation or renewal of federal tax incentives and
grants and state renewable portfolio standards; (ii) our customer
relationships and efforts to diversify our customer base and sector
focus and leverage customer relationships across business units;
(iii) our ability to continue to grow our business organically;
(iv) the sufficiency of our liquidity and alternate sources
of funding, if necessary; (v) our restructuring efforts, including
estimated costs and saving opportunities; (vi) our ability to
realize revenue from customer orders and backlog; (vii) our ability
to operate our business efficiently, manage capital expenditures
and costs effectively, and generate cash flow; (viii) the economy
and the potential impact it may have on our business, including our
customers; (ix) the state of the wind energy market and other
energy and industrial markets generally and the impact of
competition and economic volatility in those markets; (x) the
effects of market disruptions and regular market volatility,
including fluctuations in the price of oil, gas and other
commodities; and (xi) the potential loss of tax benefits if we
experience an “ownership change” under Section 382 of the Internal
Revenue Code of 1986, as amended. These statements are based on
information currently available to us and are subject to various
risks, uncertainties and other factors. You should not consider any
list of such factors to be an exhaustive statement of all of the
risks, uncertainties or other factors that could cause our current
beliefs, expectations, plans and/or assumptions to change.
BWEN INVESTOR CONTACT: Joni Konstantelos, 708.780.4819 joni.konstantelos@bwen.com
Broadwind (NASDAQ:BWEN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Broadwind (NASDAQ:BWEN)
Historical Stock Chart
From Apr 2023 to Apr 2024