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Broadwind Energy has announced the sale of its idle tower plant in Brandon, SD, USA for approximately US$ 11.7 million.
A portion of the proceeds was used to repay the underlying US$ 3.5 million mortgage balance and the remainder will be available for general corporate purposes. This sale is part of their strategy to reduce their production footprint in line with longer term expected wind tower demand and their strategy to diversify their industry concentration. According to the company the remaining two plants will be sufficient to support production of towers to meet customer demand for the next several years.
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