Titanium build --> Error: spawn ENOENT

While compiling over the console I get following error:

[INFO]  - alloy\widgets\nl.fokkezb.pullToRefresh\styles\widget.js
[INFO]  - android\alloy\CFG.js
[INFO]  - spec\ui.js
[INFO]
[INFO]  Alloy compiled in 5.31738s
 
events.js:72
        throw er; // Unhandled 'error' event
              ^
Error: spawn ENOENT
    at errnoException (child_process.js:980:11)
    at ChildProcess._handle.onexit (child_process.js:771:34)

Operating System
  Name                      = Microsoft Windows 7 Home Premium
  Version                   = 6.1.7601
  Architecture              = 32bit
  # CPUs                    = 4
  Memory                    = 3.9GB
 
Node.js
  Node.js Version           = 0.10.13
  npm Version               = 1.3.2
 
Titanium CLI
  CLI Version               = 3.2.0
  node-appc Version         = 0.2.0
 
Titanium SDKs
3.1.2.GA
  Install Location          = C:\Users\ChristopherLenz\AppData\Roaming\Titanium\mobilesdk\win32\3.1.2.GA
  Platforms                 = tizen, mobileweb, android, blackberry
  git Hash                  = 5ceaff8
  git Timestamp             = 08/14/13 12:45
  node-appc Version         = 0.1.30
 
Java Development Kit
  Version                   = 1.6.0_39