NAPERVILLE, Ill., April 22 /PRNewswire-FirstCall/ -- Broadwind Energy,
Inc. (OTC Bulletin Board: BWEN) announced today that its wholly owned
subsidiary, Brad Foote Gear Works Inc., has signed a three year, evergreen
supply agreement with GE Transportation to provide gear sets for use in
wind turbine gearboxes, which GE Transportation builds in Erie, Pa. for the
North American market.
The gearing components will be produced in Brad Foote's new 270,000
square foot "lean factory" located in Cicero Ill. This recent expansion
increases the Brad Foote's manufacturing space to nearly 600,000 square
"Brad Foote is proud to have been a partner in GE Transportation's
development of this advanced design, highly reliable gear system," said J.
Cameron Drecoll, CEO of Broadwind. "GE Transportation has taught our people
lean technologies as well as the value of Six Sigma. This has resulted in
the transformation of a typical gear job shop into the third largest
production center for wind gearing in the world."
"Brad Foote has been with us from the start of our wind turbine drive
program," said Todd Wyman, vice president, supply chain and GE Officer. "It
has been enjoyable to watch them grow into a world class supplier to GE
GE Transportation has been building megawatt class wind turbine gear
drives since 2004.
In 2002, GE Transportation created its Drivetrain Technologies group to
design, develop and produce megawatt class wind turbine gearboxes. It has
since grown into a leading supplier to the North American market,
experience it is now leveraging as it expands into new markets with new
customers. The long-term agreement with Brad Foote Gear Works is a key
component of GE Transportation's capacity build out.
No further details of the contract were disclosed.
About GE Transportation
Established more than 100 years ago, GE Transportation, a unit of
General Electric Company (NYSE: GE), is a global technology leader and
supplier to the railroad, marine, drilling, mining and wind industries. GE
provides freight and passenger locomotives, railroad signaling and
communications systems, information technology solutions, marine engines,
motorized drive systems for mining trucks and drills, megawatt class wind
turbine gear drive systems, high quality replacement parts and value added
services. With sales in excess of $4.5 Billion, GE - Transportation is
headquartered in Erie PA, and employs approximately 10,000 employees
worldwide. For more information visit http://www.getransportation.com.
About Broadwind Energy, Inc.
Broadwind Energy, Inc. (OTC Bulletin Board: BWEN), Naperville, Ill.,
owns, supports and strategically positions companies that manufacture,
install and maintain components for energy and infrastructure-related
industries with a primary emphasis on the wind energy sector. The company's
operational platforms include wind tower manufacturing, other heavy steel
manufacturing, service and construction and precision gear manufacturing.
Its platform companies currently include Brad Foote Gear Works, Inc., a
precision gearing systems manufacturer in Cicero, Ill.; Energy Maintenance
Service LLC, a wind energy operation and maintenance service provider in
Gary, S.D.; R.B.A. Inc., a heavy weld and machining fabricator in
Manitowoc, Wis.; and Tower Tech Systems, Inc., a wind tower manufacturer in
Manitowoc, Wis. Broadwind and its platform companies employ approximately
800 people across the United States. For more information, visit
Certain statements found in this press release may constitute forward-
looking statements as defined by Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements are based on current expectations and
include any statement that does not directly relate to a current or
historical fact. Such statements are generally identifiable by the
terminology used, such as "anticipate," "believe," "intend," "expect,"
"plan," or other similar words. Our forward-looking statements in this
release generally relate to our expectations with respect to our
performance under the GE contract. Although it is not possible to foresee
all of the factors that may cause actual results to differ from our
forward-looking statements, such factors include, among others, the
following: (i) incorrect assumptions by management with respect to our
ability to perform under the GE contract; (ii) our ability to successfully
remediate internal control deficiencies; (iii) fluctuations in general
economic conditions; and (iv) those risks described from time to time in
our reports to the Securities and Exchange Commission (including our Annual
Report on Form 10-KSB). Investors should not consider any list of such
factors to be an exhaustive statement of all of the risks, uncertainties or
potentially inaccurate assumptions that could cause our current
expectations or beliefs to change. Shareholders and other readers should
not place undue reliance on "forward-looking statements," as such
statements speak only as of the date of this release. We undertake no
obligation to update publicly or revise any forward-looking statements.
SOURCE Broadwind Energy, Inc.