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.”


IowaDeptEconDevel_id1863

Helukabel_id1908
Latest Top Stories

Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.


Five Common Gearbox Failures And How To Identify Them

Wind turbine gearbox failures are a major source of unplanned maintenance costs. An expert explains the most frequent failure modes and offers prevention tips.

UEA_id1896
Acciona_id1907
WomenofWind_id
JLG_id1900
AWEA_id1886
bonfiglioli_id1913