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Last $3.75 USD
Change Today +0.10 / 2.74%
Volume 92.5K
BWEN On Other Exchanges
Symbol
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NASDAQ CM
Frankfurt
As of 8:10 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

3240 South Central Avenue

Cicero, IL 60804

United States

Phone: 708-780-4800

Fax:

Broadwind Energy, Inc. provides products and services to energy, mining, and infrastructure sector customers, primarily in the United States. Segments The company’s segments include Towers and Weldments, Gearing, and Services. Towers and Weldments This segment specializes in the production of towers to support wind turbines, and the fabrication of large industrial weldments for oil and gas, mining and other industrial customers. The company’s towers are sold to wind turbine original equipment manufacturers (OEMs) who utilize its products in the installation of wind turbines. The company specializes in wind towers that are increasingly taller, larger and more technically advanced, designed for large, utility-scale wind turbines, which generate multiple megawatts (MW) of electricity per hour. The company’s 2 manufacturing facilities have a combined annual tower production capacity of approximately 500 towers, sufficient to support turbines generating approximately 1,000 MW of power. The company’s industrial weldments product line applies its core competency in welding large structures to other industries, including the oil and gas, mining and heavy equipment industries. The company fabricates these large industrial weldments in or near its tower manufacturing facilities in Manitowoc, Wisconsin and Abilene, Texas. These facilities have the scale, capacity, cranes and ancillary equipment needed to support integrated blasting, cutting, beveling, rolling and welding capabilities. In addition, the Abilene facility offers the industry large, modern blast and paint booths. Gearing This segment engineers, builds and remanufactures precision gears and gearing systems for oil and gas, wind energy, mining, steel and other industrial applications. The company uses an integrated manufacturing process, generally starting with steel bars or forgings, which are then machined in its Cicero, Illinois facility. Most of the precision gears are heat-treated in the company’s Neville Island, Pennsylvania facility and then returned to the Cicero facility for finishing and assembly. Services This segment offers a range of services primarily to wind farm developers and operators. The company specializes in non-routine maintenance services for both kilowatt and megawatt class turbines. The company also offers field services to the wind energy industry. The company provides wind services across the U.S., with primary dispatch locations in South Dakota and Texas. It operates drivetrain service centers in Abilene, Texas (the Abilene Gearbox Facility) for multi-MW wind turbines and in Howard, South Dakota for both multi-MW wind turbines and kilowatt class turbines. Strategy The key elements of the company’s strategy include expanding and diversifying its customer base; improving capacity utilization; improving production technology; and leveraging customer relationships across business units. Sales and Marketing The company markets its towers, gearing and industrial weldments products and its maintenance services primarily through its direct sales force (supplemented with independent sales agents in its Gearing segment). Customers The company manufactures products for and provides services to various customers in the wind energy, oil and gas, mining and other infrastructure industries. The majority of the company’s wind energy industry customer base consists of wind turbine manufacturers who supply wind farm operators and wind farm developers with completed wind turbines. In the other industrial sectors, the company sells its products through its trained sales force or through manufacturers' representatives to various customers. Competition For the company’s Towers and Weldments segment, the major North American based competitor is Trinity Industries. Other competitors include Vestas Wind Systems and Marmen Industries. The market for blade repair, drivetrain and field services in which the company’s Services segment competes is highly fragmented, and includes OEMs, such as General Electric and Siemens, large-scale service providers, such as enXco, and a number of independent service providers, including Moventas, Gearbox Express, IPS, and UpWind Solutions. In its Gearing segment, which is focused on oil and gas, mining and steel markets, the company’s key competitors include Overton Chicago Gear, Cincinnati Gearing Systems, Merit Gear, Milwaukee Gear, and Horsburgh & Scott. History The company was formerly known as Tower Tech Holdings Inc. and changed its name to Broadwind Energy, Inc. in 2008.

 

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Company Last Change
General Electric Co $26.26 USD +0.16
Siemens Ltd 1,451 INR +70.00
Trinity Industries Inc $29.79 USD +1.37
Vestas Wind Systems A/S kr383.80 DKK +3.50
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