Forward-looking statementsThis 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.
Siemens has selected Broadwind Energy to supply 36 locally manufactured towers for the expansion of the MidAmerican Energy wind project in Iowa and has signed an option for an additional 25 towers. Kevin Hazel, VP of Supply Chain Management for Siemens Energy’s Wind Power Americas business stated, “Broadwind’s capacity and location, coupled with extensive experience fabricating taller and heavier towers, made them an ideal partner for Siemens in Iowa.” Heavy Tower Experience With more than 1,000 towers manufactured to date, Broadwind is a leading U.S. producer of multi-megawatt wind turbine towers and one of the first U.S. companies to produce 100-meter towers. Broadwind applies existing welding talent to help solve the new American challenge for domestic energy, tapping deep roots in steel fabrication to create the tall steel towers that enable turbines to capture maximum wind energy. Broadwind will produce the wind towers for Siemens in its Manitowoc, Wisconsin facility. “We are pleased that Siemens has selected Broadwind to supply towers for this project, which confirms our original strategy of focusing on the taller and heavier multi-megawatt towers,” said Paul Smith, president of Broadwind Towers. “This is our first tower order with Siemens and fits well with our strategy of diversifying our customer base.” Broadwind expects to deliver these towers to Siemens during the second and third quarters of 2012. 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 heavy 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.