in News Departments > New & Noteworthy
print the content item

Cicero, Ill.-based Broadwind Energy Inc. has announced the sale of its idle wind tower plant in Brandon, S.D.

Proceeds from the sale, net of closing costs, totaled approximately $11.7 million. Broadwind says a portion of the proceeds was used to repay the underlying $3.5 million mortgage balance, and the remainder will be available for general corporate purposes.

During the third quarter of 2011, as part of a planned 600,000 square-foot reduction in Broadwind’s manufacturing footprint, the Brandon plant was listed for sale. With the completion of this transaction, Broadwind’s square-footage reduction totals approximately 400,000 square feet, or two-thirds of the targeted reduction.

“This sale was an important part of our strategy to reduce our production footprint in line with longer term expected wind tower demand and our strategy to diversify our industry concentration,” states Peter Duprey, president and CEO. “This will reduce our fixed overhead and further strengthen our balance sheet. We believe our remaining two plants will be sufficient to support production of towers to meet customer demand for the next several years.”



Trachte Inc._id1770
Latest Top Stories

The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.


Quebec Government Postpones Wind Power RFP; No New Date Scheduled

The request for proposals (RFP) is part of an overall 800 MW wind power tranche that will serve as a bridge to the next phase in the province's energy future.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Future Energy_id2008