Industrial production and services have been one of the more affected sectors of the economy. There are, however, certain segments of the industrial base that are working productively to make a more positive future. Mechanical gearing products are one such area.
Broadwind Energy Inc. (BWEN.OB), an industrial products company, works to provide products and services to companies working in the mechanical manufacturing and wind energy industries. The company primarily offers manufacturing of gears and associated mechanical elements and services to maintain these products. Wind energy is a major focus of the company.
Although the industrial base of North America has been operating at a slower pace in the first part of 2009, Broadwind Energy has been moving forward with respectable results. Some might be correct in their assumptions that industrial type companies are finding difficult conditions, these same people, however, might find that Broadwind Energy is moving forward with a better than average return relative to the rest of the market.
From the beginning of 2008, the companyâ€™s Energy Services LLC acquisition and Brad Foote Gear Works first full year contribution have proven positive additions to the company. Brad Foote has contributed $98 million to the overall company position while the Energy Services portion of the company appears to be ready to capitalize on an increasing wind power position in the North American power system. Although capital expenditure may appear to be more aggressive in times of poor capital acquisition, the companyâ€™s overall plan appears to be intact for future growth.
Investments have been made with the future in mind. As industrial production and wind power begin to rebound as capital opportunities present themselves, Broadwind Energy will be ready for solid growth and possibly dominance in the fields of industrial gear manufacturing, tower and crane manufacturing and wind power services.