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      Broadwind Energy Inc. (BWEN) stock rose during pre-market trading. Here’s what you should know? - Stocks Telegraph

      By Mahnoor Shah

      Published on

      September 30, 2021

      9:50 AM UTC

      Broadwind Energy Inc. (BWEN) stock rose during pre-market trading. Here’s what you should know? - Stocks Telegraph

      Broadwind Energy Inc. (NASDAQ: BWEN) stock fell by 4.28% at last close whereas the BWEN stock-price surges by 11.79% in the pre-market trading session. Broadwind is a high-precision manufacturer of clean-tech and other specialty buildings, equipment, and components. Their experienced staff is dedicated to helping clients optimise the performance of their investments, quicker, simpler, and smarter with locations around the United States.

      BWEN stock’ Important Development

      Broadwind stated that it has secured new tower orders totaling more than $12 million from a variety of wind turbine clients. Broadwind has sold around a quarter of its full-year 2022 optimum tower manufacturing capacity, including these additional orders. In the next months, Broadwind hopes to get more orders for manufacturing capacity in 2022.

      Eric Blashford, President and CEO of Broadwind stated that,

      As they think forward to 2022, these additional tower orders give improved visibility while also strengthening their connections with important wind turbine partners. They estimate tower demand to start to increase in 2022, owing to continued success in client diversification, increasing order activity, and the likely approval of a production tax credit extension. They expect sequential order growth of 50% in the third quarter of 2021, compared to the second quarter, due to increased activity levels across all of their reporting divisions. During their third quarter conference call in early November, they will provide more updates.

      Recent Update about Management

      Jason Bonfigt, Vice President and Chief Financial Officer, informed the Board of Directors of his intention to seek other possibilities, according to Broadwind. Mr. Bonfigt’s departure has nothing to do with the Company’s operations, policies, or procedures, including internal controls or financial concerns.

      Since July 2017, Mr. Bonfigt has worked as Chief Financial Officer of Broadwind, which he joined in 2008. Mr. Bonfigt will remain in his present role until October 1, 2021, when President and CEO Eric Blashford will take on the job of interim Chief Financial Officer.

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