CICERO, Ill., Sept. 10, 2014 (GLOBE NEWSWIRE) -- Broadwind Energy, Inc. (Nasdaq:BWEN) today announced $14 million in new tower orders from a U.S. wind turbine manufacturer. Broadwind will produce these towers in its Manitowoc, WI and Abilene, TX facilities.
Broadwind President and CEO Peter Duprey stated, "With these orders, nearly three quarters of our tower production capacity for 2015 is sold and we expect to fill the remaining capacity before year-end. We are in discussions with customers for additional commitments into 2016 and 2017 and look forward to a decision on the Production Tax Credit after the November elections. We remain confident about the 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
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.
Source:Broadwind Energy, Inc.