HAWK Manufacturing Terminates Agreement to Acquire Trump Equipment Company, Inc.

WILMINGTON, N.C. (Feb. 7, 2014) – HAWK Manufacturing, Inc. terminated its agreement to purchase a majority interest in Trump Equipment Company, Inc., of New Braunfels, Texas ("Trump"). HAWK, a CNC machining company based in Charleston, S. C., had entered into an agreement with the majority shareholders of Trump to purchase the company on Sept. 27, 2013. "While remaining an attractive target for HAWK Manufacturing in the future, the acquisition of Trump Equipment Company at this time would have comprised our organic growth objectives," stated John Ragsdale, HAWK's Chief Executive Officer. Ragsdale continued, "We believe that our acquisition of NQM presents a more immediate and beneficial impact upon our long term growth strategies. By concentrating on products and services that provide higher margins, we feel we can better serve our shareholders by fully executing our current and future acquisition strategies." HAWK announced on Feb. 5, 2014 it acquired aerospace machining shop, NQM, Inc.