Global Earth Energy, Inc.'s (GLER) Partner Hawk Manufacturing Announces Annual Sales Growth of 21%
December 03 2013 - 9:28AM
Global Earth Energy, Inc.'s (OTCQB:GLER) partner Hawk Manufacturing
(HAWK) based in Charleston, SC, announces annual 21% growth.
Benefiting from the explosive growth of the oil and gas industry in
multiple areas of the country, including Texas, the Bakkens and
shale ranges in Ohio, Pennsylvania and New York, HAWK remains on
track for this 21% sales increase.
During 2013 HAWK'S integration of previous acquisitions began to
perform with growth acceleration in various areas. With $18.2
million in projected revenues and earnings before taxes, interest
and amortization of $1.8 million, Hawk sees significant upside in
2014. In addition to oil and related services, HAWK is experiencing
growth in the transportation and aerospace sectors. With
clients like Chesapeake Energy, Devon Energy, US Coast Guard,
Lockheed Martin, Eaton, John Deer, Spirit Aerospace, Boeing,
Airbus, as well as over 800 other clients, HAWK anticipates robust
business performances going forward.
HAWK continues to transform into a full-services oil services
company, whereas both GLER and HAWK see huge upside
potential. With more than 40,000 wells permitted nationally,
with more than 100 well permits added per month, and with only
about 2,000 US onshore wells producing, HAWK expects to see growth
for years to come. HAWK, along with its other acquisitions,
has facilities near the Permian, Utica, Niobrara and other shale
ranges gives them a unique ability to service the producers within
these ranges with everything from pre-drilling services, drill site
services, drill site transportation, fleet vehicle maintenance, and
well producing solutions that help capture additional
resources.
GLER report that HAWK expects to see significant growth in
revenues and earnings in 2014. In the first quarter of 2014,
HAWK expects to add 3-4 new acquisitions to its company, increasing
additional resources and services. These acquisitions will
bring in approximately $47 million in new revenues (2013) and
approximately $14.5 million additional cash flow. HAWK
believes 62% of the current and expected revenues are long-term
contract guarantees through 2017. With a number of Tier 1 and Tier
2 supplier designations from major Fortune 500 companies, Hawk is
well positioned for growth.
GLER further reports HAWK intends to use existing credit
facilities for more than $25 million to complete transactions and
intends to work with various states and local governments and
finance authorities on tax incentives where direct benefits could
top more than $40 million over the life of the company. HAWK
intends to keep all manufacturing US-based and to expand US
employment.
For more information about Global Earth Energy please contact
Rich Kaiser, YES INTERNATIONAL, Business Consultant, 757-306-6090
and/or John M. Ragsdale, CEO, Hawk Manufacturing at
843-817-6106.
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 Company to be materially different
from results, performance or expectations implied by these
forward-looking statements.
CONTACT: Rich Kaiser
YES INTERNATIONAL
757-306-6090