Broadwind Energy to boost wind tower production

Naperville, Ill.-based Broadwind Energy (OTC: BWEN) announced that its Tower Tech Systems subsidiary would expand its wind tower manufacturing operations, building two new production facilities in South Dakota and Texas.

Broadwind said its Tower Tech unit currently operates a plant in Manitowoc, Wis., and has been producing wind towers since 2004.

The new plants are expected to go up in Sioux Falls, S.D. and Abilene, Texas, with production to begin by early 2009. Broadwind did not disclose the cost of the new facilities.

"Our existing Manitowoc facility continues to perform well and will increase tower production capacity, and it will be supplemented by these new facilities in the heart of wind energy markets," said J. Cameron Drecoll,  CEO of Broadwind.

"This expansion to new regions, combined with our recent acquisition of a transportation and logistics provider to the wind industry, will result in the introduction of significant savings into the marketplace and ensure that we continue to deliver the highest level of quality."

Last month, Broadwind signed a definitive agreement to acquire Badger Transport, a heavy hauler in Clintonville, Wis., for $5.8 million in cash plus 581,959 Broadwind shares.

Broadwind expects to complete the acquisition, which is subject to customary closing conditions, during the second quarter of 2008.

The company said both sites for its new production facilities have direct rail access and ample tower storage. Broadwind said each plant is expected to initially employ more than 150 workers.