Caterpillar Using Components From Wind-Tower Maker Broadwind
Broadwind Energy Inc. (BWEN), a U.S. maker of wind-turbine towers and gears, rose to the most in almost two months after announcing a deal to build components for Caterpillar Inc. (CAT), the world’s largest construction and mining- equipment maker.
Broadwind, based in Naperville, Illinois, rose 32 percent to 71 cents in New York, its highest price since Aug. 30.
The company will make welded sub-assemblies for Caterpillar’s draglines, crawlers and excavating equipment in its Abilene, Texas, and Manitowoc, Wisconsin, facilities, Broadwind said today in a statement.
Along with an expansion of its wind-tower business planned for 2012, the work for Caterpillar is expected to create 50 new jobs.
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