Broadwind Energy, Inc. (NASDAQ: BWEN) announced that it has been awarded tower orders totaling approximately $37 million from two U.S. wind turbine manufacturers, for manufacture beginning in late 2012 and extending well into 2013. The towers will be produced in the Company's Manitowoc, WI facility.
Peter C. Duprey, president and CEO of Broadwind Energy, Inc., stated, "The market for wind towers in the U.S. is coming into balance. Due to the pending expiration of the Production Tax Credit and the wind tower trade case, a number of competitors, both foreign and domestic, have exited the market or repurposed some of their production assets. This has improved the balance between supply and demand. In 2011, we at Broadwind committed to broadening our customer base and continued to invest in the North American wind tower market. As a result of these efforts, we are now the second largest tower manufacturer in the U.S. and we are winning new business for 2013 despite the regulatory uncertainty in Washington."
Duprey concluded, "These towers will support more complex turbine designs, which are well-suited to the equipment at our Manitowoc plant and our skilled workforce and welding capabilities. We remain committed to wind tower production and to supporting customer demand for towers by leveraging our core competency in welding and our unique combination of experience, location and flexibility."