Broadwind Energy, Inc. provides technologically advanced products to energy, mining and infrastructure sector customers, primarily in the United States of America (the U.S.). Segments The company operates in two segments, Towers and Weldments, and Gearing. Towers and Weldments This segment manufactures towers for wind turbines, specifically the large and heavier wind towers that are designed for multiple megawatt (MW) wind turbines. Production facilities, located in Manitowoc, Wisconsin and Abilene, Texas, are situated in close proximity to the primary U.S. domestic wind energy and equipment manufacturing hubs. The facilities have a combined annual tower production capacity of up to approximately 500 towers to support turbines generating approximately 1,000 MW of power. This product segment also encompasses the manufacture of specialty weldments for mining and other industrial customers Gearing This segment engineers, builds, and remanufactures precision gears and gearing systems for oil and gas, wind, mining, steel and other industrial applications. The company uses an integrated manufacturing process, which includes machining and finishing processes in Cicero, Illinois, and heat treatment in Neville Island, Pennsylvania. Sales and Marketing The company markets its towers, gearing and industrial weldments products primarily through its direct sales force (supplemented with independent sales agents in its Gearing segment). Within the wind energy industry, its customer base consists primarily of wind turbine manufacturers who supply end-users and wind farm operators with wind turbines. Within the oil and gas (O&G) and mining industries, its customer base consists of manufacturers of hydraulic fracturing and mud pumps, mining equipment, CNG equipment and off-highway vehicles. Strategy The key elements of the company's strategy are to improve its commercial efforts and expand and diversify its customer base; improve capacity utilization and profitability; and improve production technology and operational efficiency. Customers The company manufactures products for various customers in the wind energy, O&G, mining and other infrastructure industries. The majority of its 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, it sells its products through its sales force or through manufacturers’ representatives to various customers. Dispositions In the fourth quarter of 2015, the company sold or otherwise disposed of all Services segment fixed assets and the majority of the segment’s inventory. Competition For its Towers and Weldments segment, the largest North American based competitor is Trinity Industries. Other competitors include Vestas Wind Systems, which has periodically produced towers for third party customers in addition to meeting its own captive tower requirements, and Marmen Industries, a Canadian manufacturer that has recently expanded into the U.S. market. In its Gearing segment, which is focused on the O&G, wind energy, mining and steel markets, the company's key competitors in a fragmented market 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.
broadwind energy inc (BWEN:NASDAQ CM)
3240 South Central Avenue
Cicero, IL 60804
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