Broadwind Awarded $19 million Wind Tower Order
CICERO, Ill., April 28, 2020 (GLOBE NEWSWIRE) -- Broadwind (NASDAQ: BWEN), a diversified precision manufacturer of specialized components and solutions serving global markets,
today announced an order from a wind turbine customer, representing a total value of approximately $19 million.
The Company expects to deliver the tower sections to the customer through early 2021, with the majority of revenue resulting from the order occurring in the fourth quarter 2020. Including this order, Broadwind has approximately 80% of its full-year 2020 tower production capacity in backlog.
“We continue to experience improved demand for wind tower sections, given increased global investment in the development of clean, sustainable energy sources,” stated Eric Blashford, President and CEO of Broadwind. “In 2020, we anticipate the United States will add nearly 15 GW of onshore wind capacity, an increase of more than 40% compared to the prior year. As a leading precision manufacturer of heavy fabrications, Broadwind is uniquely positioned to support growing investment in wind and other clean technologies, while continuing to build our presence in non-wind markets where our proven technical capabilities and turnkey solutions create measurable value for our customers.”
Broadwind (NASDAQ: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com
This release contains “forward looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, our management. Forward looking statements include any statement that does not directly relate to a current or historical fact. We have tried to identify forward looking statements by using words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “plan” and similar expressions, but these words are not the exclusive means of identifying forward looking statements.