Global Earth Energy, Inc.'s (GLER) Partner Hawk Manufacturing Intends to Acquire Texas-Based SWING Machinery and Equipment
October 17 2013 - 9:15AM
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.
SWING first opened for business on February 12, 1947. Ed
Friedrich Company, H.B. Zachary Company, Acme Iron Works, Kelly Air
force Base and what would become City Public Service were some of
the first to do business with SWING.
SWING's first lines represented were cutting tools from
Chicago-Latrobe Twist Drill, Threadwell Tap, and Greenfield. Also,
they represented machine tools from Nebel Lathe Co., American
Machine Tool Works, and Kearney & Trecker Milwaukee Machine
Tools. SWING Machinery was the early distributor of the original
Millers Falls Tool Company product line of hand tools and saw
blades.
Today, SWING is celebrating 57 years of Service to South Texas
and Mexico with the best lines of tools and equipment to the trade,
specializing in personalized service to clients which require
engineered applications and particular stocking programs. In the
Metalworking Industry, Aerospace Industry, fabrication and
assembly, SWING offers access to quality lines at scheduled pricing
and inventory.
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