GLER only INTENDSor EXPECTS
Global Earth Energy, Inc.'s (GLER) Partner Hawk Manufacturing Intends to Acquire Texas-Based SWING Machinery and Equipment
WILMINGTON, N.C., Oct. 17, 2013 (GLOBE NEWSWIRE) -- Global Earth Energy, Inc.'s partner Hawk Manufacturing (HAWK) based in Charleston, SC, signs letter-of-intent through its Trump Equipment Company (TEC) subsidiary to acquire Swing Equipment Company of San Antonio, TX (SWING). The acquisition is expected to close on or before December 1, 2013. HAWK expects to use existing financing facilities of more than $25 million to close the transaction on behalf of its subsidiary, TEC.
.GLER reports that HAWK is acquiring companies that manufacture complementary products. When combined, these acquisitions would allow for the sharing of resources and provide customer diversification opportunities. HAWK intends to keep all manufacturing US-based while, preserving and expanding well-paying US jobs; proving a world-class manufacturing company can be built with US-employees. HAWK intends to use existing credit facilities for more than $10 million to complete transactions and intends to work with various states and local governments and finance authorities on tax incentives, and direct benefits that could top more than $40 million over the life of the company.
For more information about Global Earth Energy please contact Rich Kaiser, YES INTERNATIONAL, Business Consultant, 757-306-6090.
For more information about Hawk Manufacturing, please contact John M. Ragsdale, CEO, Hawk Manufacturing at 843-817-6016.
This news release contains forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements.
Contact:
Rich Kaiser
YES INTERNATIONAL
757-306-6090
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