Generac Announces Expansion into Australian Market
July 30 2012 - 4:05PM
Business Wire
Generac Holdings Inc. ("Generac") (NYSE: GNRC), a leading
designer and manufacturer of generators and other engine powered
products, announced that it has signed an exclusive contract with
Allpower Industries of Victoria, Australia (http://allpower.com.au)
to sell and service Generac automatic home backup power systems and
other products throughout Australia and New Zealand.
“Expanding into new geographies is a key part of our Powering
Ahead strategy,” said Aaron Jagdfeld, CEO of Generac. “Power
outages occur in Australia for many of the same reasons they occur
in the U.S.—extreme weather, equipment failures, and construction
accidents. It’s not a matter of if a power outage will occur, it’s
when it will occur. Generac leads the market for home backup power
in the U.S., and we’re excited to partner with such a well known
and reputable company as Allpower and bring our expertise in
emergency power generation to homeowners throughout Australia and
New Zealand.”
Currently, the penetration of home standby generators in
Australia and New Zealand is minimal, with no manufacturer having
any meaningful level of market penetration. Total single-family
households are estimated to be 9.5 million by 2017.
“This partnership is an excellent way to provide additional
value to consumers throughout Australia and New Zealand,” said John
Sinclair, CEO of Allpower. “Allpower prides itself on offering
premium power equipment brands to our customers. Generac’s
reputation in the U.S. is second to none, and we’re excited to help
them expand their presence here.”
Allpower will also sell Generac portable generators, which can
be used for emergency power as well as DIY projects, and Generac
power washers for homeowners who want to clean everything from
outdoor furniture to brick and stone.
Started in 1977 in a small warehouse in Burwood, Victoria with
two equipment suppliers and only five product lines, Allpower
Industries has grown to offer six premium brands of outdoor power
equipment with industry leading warranties and service support.
Allpower products are available to consumers and contractors
through more than 400 dealers Australia-wide and a 150-strong
dealer network across New Zealand, as well as online.
Generac products are targeted for availability in the fourth
quarter of this year through existing Allpower dealers. These
channels will expand to include major retailers and electrical
wholesalers throughout 2013.
About Generac
Since 1959, Generac has been a leading designer and manufacturer
of a wide range of generators and engine powered products. As a
leader in power equipment serving residential, light commercial,
industrial and construction markets, Generac's power products are
available through a broad network of independent dealers,
retailers, wholesalers and equipment rental companies. The company
markets and distributes its products primarily under its Generac
and Magnum brand names.
Forward-looking Information
Certain statements contained in this news release, as well as
other information provided from time to time by Generac Holdings
Inc. or its employees, may contain forward looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those in the forward looking statements.
Forward-looking statements give Generac's current expectations and
projections relating to the Company's financial condition, results
of operations, plans, objectives, future performance and business.
You can identify forward-looking statements by the fact that they
do not relate strictly to historical or current facts. These
statements may include words such as "anticipate," "estimate,"
"expect," "project," "plan," "intend," "believe," "confident,"
"may," "should," "can have," "likely," "future" and other words and
terms of similar meaning in connection with any discussion of the
timing or nature of future operating or financial performance or
other events.
Any such forward looking statements are not guarantees, and
involve risks, uncertainties (some of which are beyond the
Company's control) and assumptions. Although Generac believes any
forward-looking statements are based on reasonable assumptions, you
should be aware that many factors could cause outcomes to differ
materially from those anticipated in any forward-looking
statements.
Any forward-looking statement made by Generac in this press
release speaks only as of the date on which it is made. Generac
undertakes no obligation to update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
SOURCE: Generac Holdings Inc.
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