WILMINGTON, N.C. (Aug. 28, 2013) – Global Earth Energy, Inc., a development stage company operating in the oil and gas sector, announces a partnership with Hawk Manufacturing, Inc. whereby each company will take a respective 20 percent stake in the other.
President of Global Earth Energy, Inc., Mr. Sydney A. Harland, states, "GLER and HAWK Manufacturing have completed a stock swap of 20% in each company, giving one another ownership in each respective corporation."
The value of the transaction is nearly $5 million between the two firms. GLER is receiving $4.3 million worth of stock from Hawk.
Hawk Manufacturing, Inc. is acquiring companies that manufacture complementary products. When combined, these acquisitions would allow for the sharing of resources and provide customer diversification opportunities. Hawk Manufacturing intends to keep manufacturing U.S.-based, preserving and expanding well-paying U.S. jobs, building a 21st century, manufacturing company in the U.S. with a core U.S. manufacturing base.
Mr. John M. Ragsdale, CEO, Hawk Manufacturing, states, "We at Hawk Manufacturing are excited to be partnered with GLER, and we strongly believe in American manufacturing. We feel we can work with our client companies to provide quality products and profitable prices from an American manufacturing base."
GLER will provide Hawk with easier access to capital, while Hawk Manufacturing will provide GLER with resources to pursue other ventures beneficial to GLER shareholders.
Hawk Manufacturing is a privately held corporation acquiring operating businesses in the plastics and metals manufacturing industries.