HAWK Manufacturing Closes Acquisition of NQM, Inc. - Aerospace Machine Shop
February 05 2014 - 1:55PM
Global Earth Energy, Inc.'s (OTCQB:GLER) partner HAWK
Manufacturing, Inc. (HAWK) announces closing the acquisition of
NQM, Inc., an aerospace machine shop. The acquisition is
immediately accretive to HAWK's revenues and earnings.
NQM's primarily manufactures metal components of all types used
for the aerospace industry.
Large manufacturers are seeking to outsource more production to
independent companies, and because this company has excellent
customer service and reliability, more business growth and
opportunities have been obtained. Long-term agreements are in place
for supplier work on various Boeing and Airbus projects, including
work on most all of the civilian aircraft currently being produced
by the two aircraft manufacturers.
HAWK's aerospace machine shop acquisition has strength in this
current economic environment, as NQM, Inc. has added over 250 new
part numbers to their production schedule this current calendar
year from a premium customer. Based on current and expected sales,
monthly revenues are targeted to be around $500,000 per month
throughout the remainder of 2014 calendar year. Management remains
confident that revenues could reach or exceed $1M per month upon
closing pending contracts.
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 U.S.-based,
preserving and expanding well-paying U.S. jobs and proving a
world-class manufacturing company can be built with U.S.-employees.
HAWK Manufacturing intends to use existing credit facilities of
more than $25 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, Business Consultant, YES INTERNATIONAL,
757-306-6090.
For more information about HAWK Manufacturing, please contact
John M. Ragsdale, CEO, HAWK Manufacturing at 843-817-6106.
This 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
results, performance or expectations implied by these
forward-looking statements.
CONTACT: Rich Kaiser
YES INTERNATIONAL
757-306-6090