PRAMAC - PRAMAC takes control of Powermate brand, the market leader in portable generators

PRAMAC takes control of Powermate brand, the market leader in portable generators

Release date: May 2008

PRAMAC Group has turned this goal into a reality by acquiring most of the assets of POWERMATE, the largest manufacturer of portable generators in US with a production capacity over 600.000 generators a year. Powermate Corporation was a company with over $300 million in revenues divided between four divisions: Portable Generators, Home Stand-by generators (NG/LPG), compressors, pressure washers and pneumatic tools. In generators alone, its revenues were approximately $200 million. With over 40 years in business Powermate was the largest player in the retail (consumer) market having a solid market share and supplying generators to all largest retailers in US, Canada and Mexico. Powermate developed a strong reputation for quality manufacturing under trusted brand names such as Powermate, Coleman Powermate, Power Station, Endura, Black Max, Industrial Air, Magna Force, Pro-Force, Progen, Sanborn and private label brands such as Durabuilt, Marshalltown, Husky, and Kobalt.

Powermate distributed its products through mass retailers, home centers, specialty store chains, industry buying co-operatives, online e-Dealers and independent hardware retailers. In order to develop this opportunity a new company called PRAMAC AMERICA LLC has been created in partnership with MAT (Midwest Air Technologies), one of the largest manufacturers of portable compressors for the retail market in the US.

The manufacturing facility is located in Kearney, Nebraska, with almost 20,000 m2 (190,000 sq ft). With complete integrated manufacturing capabilities, it produces all necessary parts and components (electrical wiring, control panels, metal frames). This includes full capacity for manufacturing alternators.

With this acquisition, PRAMAC not only has improved its global manufacturing capabilities with one of the largest factories for generators in the world but it has also assumed a very strong name with access to the American retail market. Possibilities are enormous but at the same time, so are the challenges and responsibilities that come with them.

For more information please visit:
www.powermate.com

Safe harbor

Certain statements in this release may relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of PRAMAC to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will" and "expect" or other similar words and phrases often identify forward-looking statements made on behalf of PRAMAC. It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, changes in economic conditions; currency exchange or interest rates; political stability; market acceptance of the company's products and services; significant changes in the competitive environment; epidemic diseases; changes in law, regulations and tax rates; and other general economic, business and financing conditions and factors. We do not undertake to update our forward-looking statements.