Machinery company Broadwind Energy, Inc. (BWEN Quick QuoteBWEN - Free Report) recently announced that it has secured a tower-supply contract from a U.S.-based wind turbine manufacturer. The contract will strengthen the company’s presence in the wind turbine market of the country.

As revealed, Broadwind Energy will manufacture the towers at its facilities located in Manitowoc, WI. The contract, valued at approximately $11 million, is anticipated to be completed in fourth-quarter 2016.

In Jun 2016, Broadwind Energy won a similar tower-supply contract, worth $137 million, from a U.S.-based wind turbine manufacturer. This order is to be executed at the company’s facilities in Manitowoc, WI and Abilene, TX. We believe such back-to-back contract wins reflect the customers’ growing preference for Broadwind’s products.

Broadwind Energy is engaged in providing products and services to the energy, mining and infrastructure sectors in the U.S. Exiting first-quarter 2016, the company’s new orders nearly doubled year-over-year to $39 million while the same is roughly over $200 million year-to-date. In the quarters ahead, the company anticipates benefiting from improving production capacity as well as tight cost management. Revenues is predicted to be roughly $42−$44 million in the second quarter. div class="chart_embed">

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Broadwind Energy currently has market capitalization of $65 million. The company encounters competition from other players in the machinery industry including Kadant Inc. (KAI Quick QuoteKAI - Free Report) , Nordson Corporation (NDSN Quick QuoteNDSN - Free Report) and Altra Industrial Motion Corp. . While both Kadant and Nordson Corporation sport a Zacks Rank #1 (Strong Buy), Altra Industrial Motion carries a Zacks Rank #2 (Buy).

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