Following the close of the transaction, Ottomotores’ management team will continue to lead the company and Generac will maintain the Ottomotores brand name in the market place. It is expected that the transaction will close before the end of January 2013 pending receipt of all customary and required regulatory approvals. The combined companies will employ more than 2,800 people globally.Generac company news is available 24 hours a day, on-line at: http://www.generac.com . About Generac (NYSE: GNRC) Since 1959, Generac has been a leading designer and manufacturer of a wide range of generators and other engine powered products. As a leader in power equipment serving residential, light commercial, industrial and construction markets, Generac's power products are available through a broad network of independent dealers, retailers, wholesalers and equipment rental companies. The Company markets and distributes its products primarily under its Generac and Magnum brand names. About Ottomotores UK Limited Ottomotores is a leader in the manufacture of generating sets in Mexico and Latin America with exports to Middle East, Far East, and Africa. Manufacturing generator sets in the range of 15kW up to 2500kW for standby application as well as prime power or continuous running, Ottomotores has a broad product offering to meet any application or specification. For more information on Ottomotores, please visit http://www.ottomotores.com.mx. Forward-looking Information Certain statements contained in this news release, as well as other information provided from time to time by Generac Holdings Inc. or its employees, may contain forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Forward-looking statements give Generac's current expectations and projections relating to the Company's financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "forecast," "project," "plan," "intend," "believe," "confident," "may," "should," "can have," "likely," "future" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events.
Any such forward looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond the Company's control) and assumptions. Although Generac believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Generac's actual financial results and cause them to differ materially from those anticipated in any forward-looking statements, including:
- demand for Generac products;
- frequency and duration of major power outages;
- availability, cost and quality of raw materials and key components used in producing Generac products;
- the impact on our results of the substantial increases in our outstanding indebtedness and related interest expense due to the dividend recapitalization completed in May 2012;
- the possibility that the expected synergies, efficiencies and cost savings of the acquisition of the Magnum Products business in October 2011, or any future acquisitions, will not be realized, or will not be realized within the expected time period;
- the risk that the Magnum Products business or other acquisitions that we make will not be integrated successfully;
- competitive factors in the industry in which Generac operates;
- Generac's dependence on its distribution network;
- Generac's ability to invest in, develop or adapt to changing technologies and manufacturing techniques;
- loss of key management and employees;
- increase in product and other liability claims; and
- changes in environmental, health and safety laws and regulations.
Any forward-looking statement made by Generac in this press release speaks only as of the date on which it is made. Generac undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.SOURCE: Generac Holdings Inc.