Company Founder Ray Brickner III Announces Retirement
NAPERVILLE, Ill., May 20 /PRNewswire-FirstCall/ — Broadwind Energy, Inc. announced today that its heavy steel fabrication company, R.B.A. Inc., has acquired a second facility that more than doubles the company’s manufacturing space and significantly increases its capacity.
R.B.A., an industrial mechanical contractor in Manitowoc, Wis. provides subcontract machining, fabrication, efurbishing, welding and assembly for several industries, including the manufacture of heavy steel components for cranes used in wind facility construction and turbine erection.
R.B.A.’s founder, Raymond Brickner III, announced his retirement from his position as president of Tower Tech Systems, Inc., a Broadwind-owned wind tower and off-shore wind tower monopile manufacturer, which he also co-founded. Brickner also has resigned as president of Broadwind Energy.
R.B.A. Expansion
R.B.A. currently occupies a 40,000-square-foot heavy steel fabrication facility in Manitowoc, Wis. The new facility in Clintonville, Wis. comprises approximately 60,000 square feet and covers nearly 20 acres. It previously was used for building special trailer modules for the U.S. military.
“With this expansion, R.B.A. can further improve the service it has been providing the mining and crane-building industries,” said Broadwind CEO J. Cameron Drecoll. “Meanwhile, it contributes to the increased efficiency and value that Broadwind is building in terms of complementary and collaborating platforms of companies.”
R.B.A. acquired the building so it can meet increasing demand for its fabricating services for current customers. The expansion also will allow R.B.A. to expand its offerings of large steel components and specialty tools for customers and other Broadwind Energy platform companies.
R.B.A. has begun hiring employees for the new facility and expects to add approximately 40 people over the next 12 months. The hiring will bring its total workforce to just under 100.
In addition to R.B.A., the Clintonville facility will house the corporate offices of Badger Transport, Inc., a heavy-haul trucking company. Broadwind previously announced that it has reached a definitive agreement to acquire Badger. Broadwind expects to complete the acquisition, which is subject to customary closing conditions, during the second quarter of 2008.
Brickner Retirement
Brickner said he leaves Tower Tech with mixed emotions. “This is an extremely exciting time for Tower Tech, with a highly promising market and the financial backing of Broadwind to help the company take advantage of that market,” he said. “The company is in good hands with strong, experienced leaders who can take it to the next level. I’m proud of what my company has become and is becoming, but if there is an ideal time for me to step away, it is now.”
Brickner founded R.B.A. in 1985 and Tower Tech Systems, with three partners, in 2003. He announced his departure from the Broadwind Board of Directors earlier this month.
“Ray has been an inspiration to all of us, with his innovative ideas, never-say-die attitude and willingness to take calculated risks for the benefit of his companies,” said Drecoll. “Broadwind Energy wishes him all the best in his retirement.”
About Broadwind Energy, Inc.
Broadwind Energy, Inc. , Naperville, Ill., owns, supports and strategically positions companies that manufacture, install and maintain components for energy and infrastructure-related industries with a primary emphasis on the wind energy sector. The company’s operational platforms include wind tower manufacturing; heavy steel fabrication; wind facility construction, operation and maintenance; precision gear manufacturing; and specialized transportation services. Its platform companies currently include Brad Foote Gear Works, Inc., a precision gearing systems manufacturer in Cicero, Ill.; Energy Maintenance Service (EMS), a wind energy operation and maintenance service provider in Gary, S.D.; R.B.A., Inc., a heavy steel fabricator in Manitowoc, Wis.; and Tower Tech Systems, Inc., a wind tower and monopile manufacturer in Manitowoc, Wis. Broadwind also has signed a definitive agreement to acquire Badger Transport, Inc., a heavy hauler in Clintonville, Wis. Broadwind and its platform companies employ close to 1,000 people across the United States. For more information, visit www.broadwindenergy.com .
About R.B.A., Inc.
R.B.A., a Broadwind Energy company founded in 1985, is an industrial mechanical contractor in Manitowoc and Clintonville, Wis. The company provides subcontract machining, fabrication, refurbishing, welding and assembly for a range of industries including the manufacture of cranes for wind facility construction and turbine erection, auto assembly, construction, marine, mining and metals. It also offers complete machinery rebuild, upgrade and refurbishment. R.B.A. currently employs 60 people.
Forward-Looking Statements
Certain statements found in this press release may constitute forward-looking statements as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. Such statements are generally identifiable by the terminology used, such as “anticipate,” “believe,” “intend,” “expect,” “plan,” or other similar words. Our forward-looking statements in this release generally relate to (i) the expected benefits of the R.B.A. facility expansion; (ii) our plans with respect to the new R.B.A. facility; and (iii) and the anticipated closing date of the Badger Transport acquisition. Although it is not possible to foresee all of the factors that may cause actual results to differ from our forward-looking statements, such factors include, among others, the following: (i) unforeseen delays, costs or liabilities that may arise in connection with the facility expansion; (ii) incorrect assumptions by management or unforeseen difficulties that that limit our ability to successfully implement our plans for the new R.B.A. facility; (iii) our ability to close the Badger Transport acquisition, (iv) our ability to successfully remediate internal control deficiencies; (v) fluctuations in general economic conditions; and (vi) those risks described from time to time in our reports to the Securities and Exchange Commission (including our Annual Report on Form 10-KSB). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this release. We undertake no obligation to update publicly or revise any forward-looking statements.
FCMN Contact: fredricks@qwuest.net
Source: Broadwind Energy, Inc.
CONTACT: J. Cameron Drecoll, CEO of Broadwind Energy, Inc.,
+1-630-637-0315, Cam.Drecoll@broadwindenergy.com
Web site: http://www.broadwindenergy.com/
