WILMINGTON, N.C., Nov. 22, 2013 (GLOBE NEWSWIRE) -- Global Earth Energy, Inc.'s (OTCQB:GLER) partner Hawk Manufacturing (HAWK) provides business forecast. HAWK works steadily and aggressively on future acquisitions within a number of different business segments.
GLER reports that HAWK management is currently working on three acquisitions in the aerospace business totaling at least $15 million in 2013 revenues and $5 million in profits. These companies have long term contracts (through 2017), with Boeing and Airbus suppliers who work on such projects as the 737MAX, 737, A350, A320 and 787 as well as other aircraft. These companies also have long term arrangements with Lockheed, Honeywell, Rockwell Collins and Northrop Grumman, Boston Scientific and work on various projects like the J2X rocket engine.
Further HAWK reports working on the acquisition of a vertically integrated ship building company that has seen revenues grow by more than 40% year over year and profits growth of over 46%. This company has seen a resurgence of activity because of the oil and gas industry needing new ways to move products and the Jones Act requiring work on ships in US waters be worked on by US repair facilities. This Ship building/repair company has 50 acres of undeveloped land to grow its operations further to meet current and expected demand increases.
HAWK has been evaluating a location to build a new 50,000 sq. ft manufacturing facility, whereas HAWK's management team has been working diligently with numerous economic development authorities in various states for such a strategic location for this facility. Upon completion of this facility, HAWK believes it will create new jobs and tax revenues for that state and its local municipality.
John Ragsdale, CEO, Hawk Manufacturing states, "We continue to be aggressive in finding good acquisitions that have bottom-line earnings and established markets. HAWK continues to increase its balance sheet positively which will enable us to complete and compete for large acquisition targets. We are confident that we can close on these acquisitions in a very near time frame."
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. When combined, these acquisitions would allow for the sharing of resources and provide customer diversification opportunities.
GLER will continue to provide updates on all aspects of HAWK's business fundamentals as that information becomes available.
For more information about Global Earth Energy contact Rich Kaiser, YES INTERNATIONAL, Business Consultant, 757-306-6090.
For more information about Hawk Manufacturing contact John M. Ragsdale, CEO, Hawk Manufacturing, 843-817-6106.
This news release contains forward-looking statements involving known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements to be materially different from the results, performance or expectations implied by these forward-looking statements.