2011 has been an amazing year for our company and in 2012, it will only get better!
I wanted to be the first to tell you about a very important development we have been working on for the past three weeks.
We have decided to aggressively go after the Government market through the acquisition of City Windmills Inc. (CYW), a Delaware corporation.
Of particular interest, is the Government contract CYW controls. As you will read in the press release below, we cannot publicly announce the name of the agency until the closing of the transaction and approval from the Governmental agency's legal counsel.
We have met with CYW and plan to fly to Washington D.C. to finalize the transaction in the coming weeks.
Once successful, this union is meant to give us a stronger sales foundation with two fronts reflecting revenues.
On top of the Government contract, the acquisition comes with Roland Bopp who will head up the new Government division of Sauer Energy™. Mr. Bopp has worked in several executive positions with multi-billion dollar companies. So his addition to our team would be a tremendous win for everyone (read his resume below).
We are still moving forward with our initial plans for first quarter sales to the private sector. This latest development should in no way impede our ability to supply distributors and dealers. We are in the process of due diligence and updates of our progress will be forthcoming. So please stay tuned.
As always, we appreciate your loyalty and friendship!
To learn more, read today's press release below.
President & CEO
Sauer Energy Inc.(TM) Announces Letter of Intent to Acquire 100% of City Windmills Inc.
NEWBURY PARK, CA--(Marketwire -12/08/11)- Sauer Energy Inc.™ ("SEI™") (OTC.BB: SENY.OB - News), a developer of home and enterprise scale vertical axis wind turbine (VAWT) systems, announced today that it has signed a non-binding Letter of Intent (LOI) with City Windmills Inc., a Delaware corporation.
According to the terms of the LOI, Sauer Energy Inc.™ and City Windmills Inc. intend to discuss the full purchase of the company and its Government contract for the wind power sector. If all goes according to plan, fulfillment of the contract, will aggressively expand Sauer Energy's™ operations.
This potential source of revenue will further cement our commitment to produce American-made products. The advent of President Barack Obama's renewable energy program and the desperate need for employment growth places Sauer Energy™ in the unique position to be a key contributor toward the goal of employment growth.
Due to non-disclosure agreements between Sauer Energy Inc.™, City Windmills Inc. and the Government agency, the sensitive details regarding the agency are unavailable at this time.
The transaction is subject to the parties' completion of a definitive agreement. If achieved, Sauer Energy Inc.™ will be able to release the full details of the transaction to the public following the closing of the deal and approval from the Governmental agency's legal counsel.
Under the terms of the LOI, Sauer Energy Inc.™ will acquire all issued and outstanding shares of City Windmills Inc., which will become a wholly owned subsidiary of Sauer Energy Inc™.
"The reason we are pursuing this acquisition, which we feel is a monumental step for our company and its shareholders, is to open up new channels of sales that will enhance our bottom line. We are very excited about the opportunity that has been placed before us. The closing of the transaction is subject to execution of definitive agreements and the completion of due-diligence by all parties.
"Furthermore, the selection of Roland J. Bopp as a member of our team, will be a contributing asset to our future balance sheet," stated Dieter Sauer, CEO and President of Sauer Energy Inc.™
Roland J. Bopp, the current CEO of City Windmills Inc., will remain as CEO of the wholly owned subsidiary to manage the Governmental contract.
About Roland J. Bopp:
Mr. Bopp is a seasoned CEO with an incredible track record running multiple billion dollar companies:
Executive Vice President of Mannesmann Corp., a $20 billion engineering and telecommunication services company operating worldwide, with annual North American sales volume of $2.7 billion.
CEO and member of the Board of Directors of Billing Services Group LTD., a telecommunication industry's leading clearing and settlement, payment and financial risk management solution companies with operations in North America and Europe with annual sales volume of approximately $180 million and over 300 employees.
Chairman, President & CEO of the Americas for Deutsche Telekom Inc., a subsidiary of Deutsche Telekom AG, the largest telecommunications company in Europe. He was responsible for all of Deutsche Telekom activities in North and South America, including the alliance with France Telecom and Sprint.
Executive Vice President of Hochtief, Inc. / Turner Construction Company, New York, N.Y., a US subsidiary of Hochtief AG, Germany, a leading global systems provider in the engineering and construction sector with annual sales of approximately $13 billion.
"I am very pleased to be joining Sauer Energy's™ senior management team and am looking forward to growing the company's business in the Government sector," stated Roland J. Bopp, CEO and Chairman of City Windmills Inc.