NAPERVILLE, Ill., Dec. 21, 2010 (GLOBE NEWSWIRE) -- Broadwind Energy, Inc. (Nasdaq:BWEN) today announced that the Development Corporation of Abilene awarded its Broadwind Services subsidiary, Energy Maintenance Service, LLC, a financial assistance package of approximately $902,000, which will be applied to facility improvements and support equipment at the Company's drivetrain service center in Abilene, Texas. A portion of the assistance package will help enable the creation of jobs at the drivetrain service center. "Abilene is at the center of wind energy in Texas. This new drivetrain service center will harness Broadwind's 85 years of gearing experience with our services expertise to offer turn-key gearbox remanufacturing," said Peter C. Duprey, president and CEO of Broadwind. "We appreciate the Development Corporation of Abilene's financial support of this important renewable energy project. With approximately 160 employees in Texas, Broadwind is excited to continue to create jobs that contribute to clean energy across America." When online, Broadwind's drivetrain service center will provide a comprehensive suite of multi-megawatt gearbox remanufacturing services, including failure analysis, engineering, disassembly, gear regrinding, clean assembly and testing functions. Richard Burdine, CEO of the Development Corporation of Abilene, stated, "On behalf of the DCOA Board, we are very pleased to help Broadwind Energy expand its wind service capabilities in West Texas with this state-of-the-art facility." Broadwind is currently receiving gearboxes for remanufacturing and plans to hold the grand opening for its drivetrain service center in February 2011. About Broadwind Energy, Inc. Broadwind Energy, Inc., based in Naperville, Illinois, provides technologically advanced high-value products and services to the U.S. wind energy industry. Broadwind's product and service portfolio provides customers, including wind turbine manufacturers, wind farm developers and wind farm operators, with access to a broad array of wind component and service offerings. These product and service offerings include wind turbine gearing systems, wind turbine structural towers, industrial products, technical services, Precision Repair and Engineering services, and logistics. For more information on Broadwind Energy, please visit http://www.bwen.com The Broadwind Energy, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7803 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 and the business of its customers; the sufficiency of the Company's working capital; and the Company's expectations regarding the state of the wind energy market generally, 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.
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