Global Earth Energy, Inc.'s (GLER) Partner Hawk Manufacturing Announces Annual
Sales Growth of 21%
WILMINGTON, N.C., Dec. 3, 2013 (GLOBE NEWSWIRE) -- 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
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
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
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