We oversee, direct and provide a unifying vision for companies that manufacture, install and maintain components for energy and infrastructure-related industries. In all of those sectors - and especially in wind energy - our reach is broad, multifaceted, encompassing and growing by the day. From construction and service to heavy manufacturing, from precision gearing to wind tower fabrication, a Broadwind platform company can meet your needs.
To companies engaged in energy development and generation we say, Wherever you turn, we'll be there.™ Wherever your business gears grind, whenever your turbines spin, however your equipment rolls, Broadwind will be there. Company to company, platform to platform, we're ready to help you make it happen smoothly and on time.
Moving Full Circle
Filling the Gaps in the North American Energy Supply Chain
Finally..a company with the necessary vision, experience and ability is filling the gaps in the North American supply chain for energy development industries.
News
Broadwind Energy Reports 2008 Third Quarter Results Monday November 17, 7:41 pm ET
Tower Tech Systems is a heavy weldment fabricator with plants in Manitowoc, Wis., Sioux Falls, S.D. and Abilene, Texas. We fabricate wind towers and monopiles for on- and off-shore wind energy development, and we have a specialty with the larger, heavier next generation wind energy structures.
Top to bottom, we've optimized our organization for mass production with a combination of the most advanced equipment, high-tech automation and streamlined manufacturing processes. Soon, the efficiency of our service will be optimized with continuous, under-roof flow for blast, paint and assembly at each of our facilities.
The annual production of our Manitowoc plant will support 600-750 MW installed. With our new, state-of-the-art and streamlined plants in Sioux Falls, S.D. and Abilene, Texas, our combined annual production will support up to 1,500 MW. Each of the facilities provides easy access to multiple cost-effective shipping options.
We're prepared for the future of wind, too. As a Broadwind Energy company, Tower Tech is part of a comprehensive and efficient response to the supply-chain needs of renewable and other energy industries across North America. It also means we have the financial resources to expand, upgrade and respond to your needs, whatever they might be.
Tower Tech Holdings, Inc, now a full subsidary of Broadwind Energy, is headquartered in Manitowoc, Wisconsin.
Tower Tech Holdings, Inc. is dedicated to the exclusive mass-production of large wind tower support structures, wind turbine assemblies and monopiles for the multi-million-dollar wind power industry. Located on a 46-acre peninsula, Tower Tech leases or has options to lease more than 700,000 square feet of heavy manufacturing under roof. Tower Tech Holdings believes that it has one of the largest capacities of any wind tower manufacturer in North America, and its ability to integrate the entire manufacturing process at its Wisconsin facility as well as source materials and ship finish product by rail sets the Company apart from other manufacturers.
Directors David P. Reiland (Chairman of the Board)
Mr. Reiland has served as a member of the Company's Board of Directors since April 16, 2008, and has been Chairman of the Board of Directors since May 17, 2010. Mr. Reiland is a member of the Audit Committee. Mr. Reiland is Chairman of the Executive Committee and is also a member of the Governance/Nominating Committee. Mr. Reiland was employed by Magnetek, Inc., a public company that develops, manufactures and markets power and motion control systems, from August 1986 until January 2009, where he held numerous high-level positions, including Executive Vice President, Chief Financial Officer, Controller and Vice President of Finance, and served as Chief Executive Officer and President of Magnetek from October 2006 until October 2008. Mr. Reiland continues to serve on the board of directors of Magnetek. Mr. Reiland is a Certified Public Accountant who holds an undergraduate degree in financial management from California State University, Long Beach, and a Master of Business Administration degree from the University of Southern California.
Charles H. Beynon Mr. Beynon has served as a member of the Company's Board of Directors since October 24, 2007. Mr. Beynon is Chairman of the Audit Committee. Mr. Beynon is also a member of the Compensation Committee. Mr. Beynon also serves as a director of Integrated Electrical Services, Inc., a public company. Mr. Beynon retired as a partner from Arthur Andersen & Co. in 2002 after a 29-year career with the firm, including 19 years as a partner. He served as a division head in the firm's Houston office where he was principally responsible for the firm's services to middle market clients. In addition, Mr. Beynon is a Certified Public Accountant. Peter C. Duprey (President and CEO) Mr. Duprey has served as our President and Chief Executive Officer and also as a Director since December 1, 2010. Mr. Duprey is a member of the Executive Committee. Prior to joining the Company, Mr. Duprey served as President and Chief Executive Officer at Acciona Energy North America Corporation from April 2006 through September 2010, and led Acciona Energy's growth in wind development and operations, turbine manufacturing, and solar development in North America. In 2005 and 2006, Mr. Duprey was a partner at Zouk Ventures Ltd., a venture capital fund based in London, England. Mr. Duprey was the General Manager of Marketing for GE Wind Energy, a division of General Electric Company, from September 2003 through 2005, where he led Marketing and New Product Development. Prior to joining GE Wind, Mr. Duprey led GE Energy's business development efforts in renewable energy, including the acquisition of Enron Wind. Mr. Duprey's early career included business development, quality and financial management positions at GE Capital, Eastman Kodak and Price Waterhouse Coopers. Mr. Duprey holds a Bachelor of Science degree in accounting and finance from Clarkson University, and a Master of Business Administration degree from the University of Rochester.
William T. Fejes Mr. Fejes has served as a member of the Company's Board of Directors since March 19, 2009. Mr. Fejes is Chairman of the Governance/Nominating Committee and is also a member of the Audit Committee and the Compensation Committee. Mr. Fejes is currently the President and Chief Executive Officer of SL Industries, a public company that designs, manufactures and markets power electronics, power motion, power protection, teleprotection and communications equipment and systems that are used in a variety of medical, aerospace, computer, datacom, industrial, telecommunications, transportation and electric power utility applications. From 2007 to 2010, Mr. Fejes was the Chief Operating Officer of Seakeeper, Inc., a company that designs, manufactures and markets motion stabilization equipment for boats under 50 meters in length. Prior to joining Seakeeper, Mr. Fejes served for three years as the President and Chief Executive Officer and as a director of TB Wood's Incorporated, a public company that designs, manufactures and markets industrial power transmission components. Mr. Fejes also held various executive management roles during an eighteen-year period at Danaher Corporation, a public company that designs, manufactures and markets industrial and consumer products. Mr. Fejes received both his Bachelor of Science degree and Master of Science degree in electrical engineering from the Massachusetts Institute of Technology. Terence P. Fox Mr. Fox has served as a member of the Company's Board of Directors since February 2006. Mr. Fox is Chairman of the Compensation Committee and is also a member of the Governance/ Nominating Committee. Mr. Fox, along with three other individuals, founded Tower Tech Systems, Inc., the company around which Broadwind was built through a series of acquisitions completed in 2007 and 2008. He has been a partner in the law firm of Kummer, Lambert & Fox, LLP, and its predecessor, Dewane, Dewane, Kummer, Lambert & Fox, LLP, located in Manitowoc, Wisconsin, since June 1987, where one of his primary areas of practice is business and commercial law. Mr. Fox graduated from the University of Wisconsin-Milwaukee and the Marquette University Law School. He has many business and real estate interests and sits on the boards of directors of several non-profit and for-profit organizations in the Manitowoc, Wisconsin area.
Thomas A. Wagner Mr. Wagner has served as a member of the Company's Board of Directors since March 25, 2011. Since January 2011, Mr. Wagner has been the Engineering Head at Nordic Windpower USA, a wind turbine manufacturer to the community and distributed utility wind power segments. From January 2006 through December 2010, Mr. Wagner served as Chief Technology Officer of Gas Turbine Efficiency plc, an early stage company focused on turbine efficiency, where he led the design and validation of technology to enhance the operation of aviation, industrial and power generation turbines around the world. Mr. Wagner has worked in the diversified energy industry for more than 30 years, including positions as Vice President-Technology and Production for Hess Microgen, an affiliate of Amerada Hess Corporation, and various engineering leadership positions at General Electric Company from 1990 through 2005, where he led teams developing, delivering and servicing gas, steam and wind turbines and generators. From 2002 through 2005 Mr. Wagner served as General Manager-Technology Leadership for Wind Energy for GE Wind, where, among other things, he developed the reliability programs and product improvement plans for General Electric's 1.5 MW wind turbine. Mr. Wagner holds a Bachelor of Science degree in engineering from Cornell University and a Master of Science degree from Rensselaer Polytechnic Institute in mechanics.
BROADWIND ENERGY 2012 OUTLOOK & HIGHLIGHTS!!!
Business
More than 800 employees at facilities throughout the U.S.
Towers strong, likely to sell out before 3/31/2012
Gearing orders strong ? will ramp up non-wind production
Reducing expenses, facilities and square feet of operations to drive profitability
Fixed-asset rich (>$90 M) with limited debt
Services
Independent wind energy service provider with core expertise in non-routine maintenance, such as drivetrains, bearings and blades
Strong relationship with major owners and OEMs
Drivetrain service center in Abilene, Texas with full load testing capability which can save a customer ~30% vs. the cost of a new gearbox
Extensive capability in blade repair; more than 4,000 wind turbines serviced
Recognized as an industry leader in the support of older turbine technology such as the Zond 750 and Vestas V-47
Restructuring
1.5 M sq. ft. across all facilities
Reduce ~400K sq. ft.
- Sell offline Brandon, SD tower facility
- Consolidate Chicago gearing facilities
- Close German office
- Consolidate Corporate office with Gearing
Consolidation will save ~$6 M per year
Two facilities in Chicago totaling 500K sq. ft.
Consolidate into one facility with enough capacity for $150 M of revenue
Eliminates ~17,000 miles of annual shipping between facilities
Anticipated savings of $3-4 M per year
Broadwind Gearing
Core competency in tight-tolerance wind energy gearing
Invested $27 M in sophisticated gear cutting, grinding and hardening equipment
17 precision form tooth grinders, including one of the largest internal/external form grinders in the U.S.
One of a few gear manufacturers of the largest spiral bevel gears, which are commonly used in mining applications
Each process step is performed in-house to control quality and production cycle time
Capacity for ~$150 M of annual sales
Towers and Weldments
More than 1,000 towers manufactured to date
Well positioned as turbines trend higher and heavier
Among the first U.S. companies to produce 100-meter towers
Other specialty weldment applications include mining, rigging, fire apparatus, cranes to 3,500 tons, medical, wind towers, nuclear and oil exploration
Draws strength from Manitowoc’s rich heritage of more than 100 years in specialty weldments
Facilities in Manitowoc, WI (deep-waterport) and Abilene, TX
Capacity for 500 towers (~$200 M)
Order and Backlog History
Shift in Wind Energy order pattern from multi-year framework agreements to a project-by-project basis
Backlog does not include recent 57 tower order from Siemens
Backlog contains ~200 towers ($70 M) for 2012 and 100 towers ($40 M for 2013)
9 month sales up 46%
YTD $41 M increase in sales drives $12 M improvement in adj. EBITDA
Broadwind Energy (BWEN) to Manufacture Mining Machinery Components for Caterpillar
Broadwind Energy to Manufacture Mining Machinery Components for Caterpillar Broadwind's diversification into broader energy and infrastructure space gains momentum, grows U.S. jobs
NAPERVILLE, Ill., Nov 22, 2011 (BUSINESS WIRE) -- Broadwind Energy, Inc. BWEN +19.17% will manufacture welded sub-assemblies for Caterpillar's lines of large draglines, crawlers and excavating equipment. These components will be produced in Broadwind's facilities in Abilene, Texas and Manitowoc, Wisconsin. This work, along with the expansion of Broadwind's wind tower business in 2012, should create approximately 50 new jobs.
"This collaboration fits well with our strategic initiatives to leverage our core competencies beyond the wind industry and diversify our revenue base. We believe this is the first step in expanding our relationship with Caterpillar as we continue to collaborate," said Paul Smith, president of Broadwind Towers.
About Broadwind Energy, Inc.
Broadwind Energy BWEN +19.17% 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, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services, and specialty weldments, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy's talented team of 800 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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