Broadwind Energy Completes Sale of Services Assets
CICERO, Ill., Dec. 15, 2015 (GLOBE NEWSWIRE) -- Broadwind Energy, Inc. (NASDAQ:BWEN) today announced that it has completed the sale of a majority of the assets of its Services business to RENEW Energy Maintenance, LLC. RENEW Energy Maintenance, LLC is the service subsidiary of RENEW Energy, Inc. an employee owned company based in Sioux Falls, SD.
Broadwind interim CEO Stephanie Kushner stated, “We are pleased to conclude this asset sale and we thank our Services employees for their hard work and dedication. During a period of significant uncertainty, the Services team did an outstanding job delivering high-quality service while maintaining their commitment to safety. The conclusion of this transaction allows us to better focus on our core business. We will continue to manufacture gearing within our Gearing Segment and believe this will lead to greater opportunity to support a wide range of wind turbine gearbox manufacturers and repair service companies.”
About Broadwind Energy, Inc.
Broadwind Energy (NASDAQ:BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears and gearing systems for wind, oil and gas and mining applications, to wind towers and industrial weldments, we have solutions for the energy needs of the future. With facilities throughout the central U.S., Broadwind Energy's talented team of over 750 employees is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com
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