Broadwind Inc BWEN shares are trading higher by 52.21% to $3.44 Wednesday morning after the company announced the receipt of approximately $175 million in new tower orders from a leading global wind turbine manufacturer.
Broadwind says fulfillment of the new order will occur during the full year 2023 and conclude by the end 2024. Ordered tower sections will be produced at both the Company's Abilene and Manitowoc facilities.
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"This transformational new tower order is an historic accomplishment for our entire team, one that further establishes Broadwind as the leading precision manufacturer of heavy fabrications advancing the global energy transition," stated Eric Blashford, President and CEO of Broadwind.
"This important win will support a balanced production schedule over the next two years, materially increase system-wide facility utilization, and drive improved economies of scale across our organization."
According to data from Benzinga Pro, BWEN has a 52-week high of $3.80 and a 52-week low of $1.46.
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