Global Earth Energy, Inc.'s Partner Hawk Manufacturing Finalizing Agreements on Four Businesses in Three States
September 09 2013 - 9:15AM
Global Earth Energy, Inc. (OTCQB:GLER) partner HAWK Manufacturing
(HAWK) continues to work on reaching acquisition agreements with
four businesses in three states. These businesses had combined 2012
annual revenues of $27 million and 2012 annual EBITA profits of $4
million. Expecting to close these acquisitions before the end of
2013, HAWK anticipates using existing financial facilities of more
than $10 million to close on these transactions.
The acquired companies will be announced upon successful closing
and transition of management teams, a confidentiality agreement
remains in place until then.
These businesses are diverse in geography and operations,
includes oilfield services to both the Permian Basin and Eagle Ford
oil ranges with "Master Service Agreements" in-place with major oil
production companies.
GLER further reports that In addition to HAWK's intended direct
services to the oil field sector, including drilling services, and
transportation services, HAWK is working to acquire a company that
makes products for industrial food
distribution.
HAWK reported to GLER that it is working with the various state
and local agencies to expand operations and bring new employment to
the areas; HAWK is negotiating incentives at the state and local
level that could total more than $17 million in tax incentives and
other benefits.
GLER believes that HAWK intends to use existing credit
facilities for more than $10 million to complete this transaction
and similar transactions going forwards, 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.
Hawk Manufacturing is a privately held corporation looking to
complete a roll-up of the plastics and metals manufacturing
industries. The objective of Hawk is to combine several metals
and plastics fabrication businesses under a single operating
company in order to achieve the following:
- Expand current operations through strategic capital and other
resource infusions
- Diversify current operations by leveraging acquisition customer
codes and relationships
- Leverage customer relationships with companies like Delta
Airlines, US Airways, John Deer and others to generate additional
business.
- Increase geographic coverage by launching satellite
operations
- Leverage synergies across all operations through purchasing
economies of scale, consolidation of support operations, and other
resource sharing
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 515-230-8076.
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