WILMINGTON, N.C., Jan. 9, 2014 (GLOBE NEWSWIRE) -- Global Earth Energy, Inc.'s (OTCQB:GLER) partner Hawk Manufacturing (HAWK), announces signing an agreement to acquire NQM, Inc., an aerospace machine shop. The acquisition is expected to close on or before March 1, 2014. HAWK expects to use existing financing facilities of more than $25 million to close this transaction.
This company manufactures metals of all types used for the aerospace industry and manufactures their own in house products for the wire fencing industry.
Large manufacturers are seeking to outsource more production to independent companies like NQM, which has excellent customer service and reliability, leading to more business growth and opportunities. Long-term agreements are in place for supplier work on various Boeing and Airbus projects, including work on the 787, 737-800 and -900 and the 737MAX as well as A320neo, A350 and other aircraft work.
GLER reports that HAWK's pending NQM, Inc. acquisition has strength in this current economic environment, as they have added over 250 new aerospace part numbers to their production schedule this current calendar year.
Upon completing the NQM acquisition, HAWK should provide more information to GLER at that time.
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 preserving and expanding well-paying US jobs and proving a world-class manufacturing company can be built with US-employees. Hawk Manufacturing 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, 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.