Broadwind Energy Announces Rebrand To Broadwind
CICERO, Ill., Jan. 06, 2020 (GLOBE NEWSWIRE) -- Broadwind Energy, Inc. (NASDAQ: BWEN) today announced that it has rebranded to Broadwind©. The rebranding campaign, which includes a new logo and positioning, followed by an updated website, introduces the new Broadwind as a proven diversified precision manufacturer of specialized components and solutions serving global industries.
Consistent with the broader corporate rebranding initiative, the Company’s Process Systems segment, which includes Red Wolf Company, has been renamed Broadwind Industrial Solutions, while the Towers and Heavy Fabrications segment has been renamed Broadwind Heavy Fabrications.
“Broadwind has grown to become a recognized leader within the precision manufacturing space, one whose proven technical expertise and turnkey solutions have application across a wide range of global industries,” stated Stephanie Kushner, CEO of Broadwind. “Our targeted focus on both customer and end-market diversification continues to make progress, positioning the business for increasingly stable, profitable growth through the cycle. The rebranding is intended to better inform key stakeholders on how our business mix has evolved with time, while clearly defining who we are and how we win in the markets we serve.”
The rebranding campaign includes the tagline “Think Big”. This statement reflects the Company’s deep technical expertise, unwavering commitment to its customers, creative approach to complex problem-solving and the large-scale components manufactured by the Company. Broadwind provides a complete solution to its customers, from engineering, design and fabrication to supply chain solutions and kitting.
“The rebranding recognizes our long history as a valued partner to the wind energy industry, while highlighting our growing presence in new growth markets,” stated Eric Blashford, incoming CEO of Broadwind, effective March 1, 2020. “To that end, we continue to invest in the people, processes and systems required to support market expansion, while continuing to provide existing customers with reliable, high-quality products and solutions. We believe the rebrand is supportive of our long-term strategy, one that emphasizes further end-market diversification as our top priority entering 2020.”
This release contains “forward looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, our management. Forward looking statements include any statement that does not directly relate to a current or historical fact. We have tried to identify forward looking statements by using words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “plan” and similar expressions, but these words are not the exclusive means of identifying forward looking statements.
Our forward-looking statements may include or relate to our beliefs, expectations, plans and/or assumptions with respect to the following: (i) state, local and federal regulatory frameworks affecting the industries in which we compete, including the wind energy industry, and the related extension, continuation or renewal of federal tax incentives and grants and state renewable portfolio standards, as well as new or continuing tariffs on steel or other products imported into the United States; (ii) our customer relationships and our substantial dependency on a few significant customers and our efforts to diversify our customer base and sector focus and leverage relationships across business units; (iii) our ability to continue to grow our business organically and through acquisitions; (iv) the production, sales, collections, customer deposits and revenues generated by new customer orders and our ability to realize the resulting cash flows; (v) the sufficiency of our liquidity and alternate sources of funding, if necessary; (vi) our ability to realize revenue from customer orders and backlog; (vii) our ability to operate our business efficiently, comply with our debt obligations, manage capital expenditures and costs effectively, and generate cash flow; (viii) the economy and the potential impact it may have on our business, including our customers; (ix) the state of the wind energy market and other energy and industrial markets generally and the impact of competition and economic volatility in those markets; (x) the effects of market disruptions and regular market volatility, including fluctuations in the price of oil, gas and other commodities; (xi) competition from new or existing industry participants including, in particular, increased competition from foreign tower manufacturers with access to lower cost steel; (xii) the effects of the change of administrations in the U.S. federal government; (xiii) our ability to successfully integrate and operate companies and to identify, negotiate and execute future acquisitions; (xiv) the potential loss of tax benefits if we experience an “ownership change” under Section 382 of the Internal Revenue Code of 1986, as amended; (xv) the limited trading market for our securities and the volatility of market price for our securities; and (xvi) the impact of future sales of our common stock or securities convertible into our common stock on our stock price. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. We are under no duty to update any of these statements. You should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or other factors that could cause our current beliefs, expectations, plans and/or assumptions to change.
Broadwind (NASDAQ: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com
Corporate Contact Jason Bonfigt 708.780.4821