The company, based in Illinois, will net $11.7m from the deal which will use to repay the underlying $3.5m mortgage balance, with the remainder available for general corporate purposes.

Broadwind did not name the buyer, but officials in the City of Brandon where the plant is located say it is Marmen, a Canadian manufacturer based in Trois Rivieres, Quebec.

Marmen claims to be the largest producer of utility-scale wind towers in North America.

Broadwind