Bloomberg News

Broadwind Climbs Most in Three Weeks on $23 Million Order

January 12, 2012

(Updates with closing share price in second paragraph.)

Jan. 12 (Bloomberg) -- Broadwind Energy Inc., a U.S. maker of wind-turbine towers, jumped the most in three weeks after announcing a $23 million sale.

Broadwind gained 7.4 percent to 72 cents at the close in New York, the biggest increase since Dec. 20. The shares have declined 69 percent in the past year.

The tower order was Broadwind’s first from “a leading U.S. wind-turbine manufacturer,” which it did not identify. The towers will be produced at Broadwind’s Manitowoc, Wisconsin, plant and delivered in the second half of 2012, the Naperville, Illinois-based company said in a statement today.

“Fourth-quarter orders were strong across each of our business segments including gearing, towers and services,” Chief Executive Officer Peter Duprey said in the statement. “We are well positioned for revenue growth in 2012.”

--Editors: Will Wade, Charles Siler

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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