Broadwind Sells Brandon, SD Tower Plant for $11.7M

Broadwind Energy, Inc. BWEN today announced the sale of its idle tower plant in Brandon, SD. Proceeds from the sale, net of closing costs, totaled approximately $11.7 million. A portion of the proceeds was used to repay the underlying $3.5 million mortgage balance and the remainder will be available for general corporate purposes. During the third quarter of 2011, as part of a planned 600,000 square foot reduction in Broadwind's manufacturing footprint, the Brandon plant was listed for sale. With the completion of this transaction, Broadwind's square-footage reduction totals approximately 400,000 square feet, or two-thirds of the targeted reduction. Broadwind Energy President and CEO Peter Duprey stated, “This sale was See full press release