WAUKESHA, Wis.--(BUSINESS WIRE)--Jul. 30, 2012--
Generac Holdings Inc. ("Generac") (NYSE: GNRC), a leading designer and
manufacturer of generators and other engine powered products, announced
that it has signed an exclusive contract with Allpower Industries of
Victoria, Australia (http://allpower.com.au)
to sell and service Generac automatic home backup power systems and
other products throughout Australia and New Zealand.
“Expanding into new geographies is a key part of our Powering Ahead
strategy,” said Aaron Jagdfeld, CEO of Generac. “Power outages occur in
Australia for many of the same reasons they occur in the U.S.—extreme
weather, equipment failures, and construction accidents. It’s not a
matter of if a power outage will occur, it’s when it will
occur. Generac leads the market for home backup power in the U.S., and
we’re excited to partner with such a well known and reputable company as
Allpower and bring our expertise in emergency power generation to
homeowners throughout Australia and New Zealand.”
Currently, the penetration of home standby generators in Australia and
New Zealand is minimal, with no manufacturer having any meaningful level
of market penetration. Total single-family households are estimated to
be 9.5 million by 2017.
“This partnership is an excellent way to provide additional value to
consumers throughout Australia and New Zealand,” said John Sinclair, CEO
of Allpower. “Allpower prides itself on offering premium power equipment
brands to our customers. Generac’s reputation in the U.S. is second to
none, and we’re excited to help them expand their presence here.”
Allpower will also sell Generac portable generators, which can be used
for emergency power as well as DIY projects, and Generac power washers
for homeowners who want to clean everything from outdoor furniture to
brick and stone.
Started in 1977 in a small warehouse in Burwood, Victoria with two
equipment suppliers and only five product lines, Allpower Industries has
grown to offer six premium brands of outdoor power equipment with
industry leading warranties and service support. Allpower products are
available to consumers and contractors through more than 400 dealers
Australia-wide and a 150-strong dealer network across New Zealand, as
well as online.
Generac products are targeted for availability in the fourth quarter of
this year through existing Allpower dealers. These channels will expand
to include major retailers and electrical wholesalers throughout 2013.
About Generac
Since 1959, Generac has been a leading designer and manufacturer of a
wide range of generators and 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.
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," "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, 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 cause outcomes to differ materially from those
anticipated in any forward-looking statements.
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.
Source: Generac Holdings Inc.
Generac Holdings Inc.
York A. Ragen, (262) 506-6064
Chief
Financial Officer
InvestorRelations@generac.com
or
Michael
W. Harris, (262) 544-4811 x2675
Director - Finance and Investor
Relations
Michael.Harris@generac.com
