Cameron has selected Brad Foote Gear Works, Inc., a subsidiary of Broadwind Energy (NASDAQ: BWEN), to supply enclosed drives and open gearing for use on off-shore oil platforms. Shipments to Cameron are expected to begin in fourth-quarter 2012 and continue into 2013.
“Brad Foote’s impressive commitment to continuous improvement and deep expertise in precision gearing fits closely with Cameron’s commitment to product excellence. We look forward to working with the Brad Foote team,” said Bill Haggard, Supply Chain for Cameron’s Drilling Systems division.
A heritage of gearing expertise
Since 1924, Brad Foote Gearing has produced tight-tolerance gearing for markets as diverse as oil and natural gas, mining, steel, transportation, power generation and wind. The Company is a founding member of the American Gear Manufacturers Association and was honored to be the first U.S.-based gear manufacturer to be ISO 9001 certified.“We are delighted to help meet Cameron’s need for enclosed drive and open gearing,” said Daniel E. Schueller, president of Brad Foote Gear Works, Inc. “This win is another success in our ongoing diversification into a variety of energy and infrastructure markets.” 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, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services, and 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. Forward-Looking Statements This news release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995—that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. The Company's forward looking statements may include or relate to the Company's plans to grow its business and its expectations regarding its operations, revenue growth, profitability and the business of its customers; the Company’s expectations regarding its plan to restructure its operations by consolidating its operations; the sufficiency of the Company's working capital; the Company's expectations regarding the state of the wind energy market, and the regulatory frameworks affecting the wind energy industry, as well as the Company's expectations relating to the economic downturn and the potential impact on its business and the business of its customers. For further discussion of risks and uncertainties, individuals should refer to the Company's SEC filings. The Company undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by this cautionary statement.