SCHWING AMERICA, INC. PARTNERS WITH ASSOCIATED BANK AND ASSOCIATED COMMERCIAL FINANCE TO PROVIDE CAPITAL FOR INCREASED PRODUCTION AND CONTINUED SALES GROWTH

MINNEAPOLIS - April 22, 2014 - Associated Bank and Associated Commercial Finance, both part of Associated Banc-Corp (NASDAQ: ASBC), recently closed on a $19 million loan to SCHWING America, Inc., manufacturer of industry leading construction equipment. The loan provides working capital to support SCHWING America's substantial increase in production and sales growth as the company is on pace to quadruple its annual sales in 2014 versus 2010.

"Associated Bank's goal is to continue to develop creative financing solutions for projects that support the continued economic growth throughout the Midwest," said Rob Raveling, vice president and portfolio manager for Associated Commercial Finance, Inc. "We are pleased to be able to work with SCHWING America, Inc., as they continue to grow and provide quality products for both the commercial and residential construction industries."

"Associated Bank has been a true overall banking partner with us since 2010 and we are excited to be partnering with them on this next crucial step for our company," said Bill Murray, chief financial officer of SCHWING America, Inc. "From the beginning of our treasury management relationship nearly four years ago, to the closing of this loan and beyond, Associated Bank has understood our redevelopment goals and worked hard to bring everything together to meet our complex needs and ultimately position SCHWING America for continued success."

Located in St. Paul, Minnesota, SCHWING America manufactures industry leading construction equipment branded as SCHWING concrete pumps, SCHWING Stetter truck mixers, batch plants, reclaimers and genuine SCHWING parts for distribution in North and Latin America.

ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NASDAQ: ASBC) has total assets of $24 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services in over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

ABOUT SCHWING AMERICA, INC.
SCHWING America is a member of the SCHWING Group, a worldwide designer, manufacturer and distributor of premium concrete production and handling equipment, headquartered in Herne, Germany. SCHWING, committed to supporting its customers' success, excels in producing high quality concrete equipment used in even the most demanding construction applications, through innovative engineering, premiere manufacturing and optimum after-sales support. SCHWING America, located in St. Paul, Minnesota, offers industry leading concrete pumps, truck mixers, batch plants, reclaimers and genuine parts for distribution in North and Latin America.

http://www.twst.com/update/53070-associated-banc-corp-schwing-america-inc-partners-with-associated-bank-and-associated-commercial-finance-to-provide-capital-for-increased-production-and-continued-sales-growth

New CEO of Schwing Fired. Thomas Ostermann had looked optimistically to the future in the WAZ interview. At the beginning of the week he was fired.

Thomas Ostermann, only since September Manager of the Cranger concrete pump manufacturer oscillation in Herne, was apparently released earlier this week with immediate effect from his duties. An official reason was given, the reasons for the eviction are completely in the dark.

It was not until last Saturday had Thomas Ostermann, new Managing Director of the Cranger concrete pump manufacturers Schwing, in WAZ interview provided information on the current situation in the company, yesterday the editors reached the entirely surprising news: Ostermann has been relieved of his duties earlier this week. Apparently, with immediate effect.


A confirmation from the official side there was yesterday before the copy deadline not initially, but the information from business circles coincide: Ostermann has been fired.

Only IG Metall boss Eva Maria Kerkemeier remarked: "I was totally surprised and shocked when I received this message" Kerkemeier said in an interview with the editors. You can not imagine why Ostermann was released, so an approach was not normal. Kerkemeier have Ostermann perceived as a managing director, who wanted to change something and the act. He was looking for communication and was not notified of the workforce. In addition, Ostermann was a constant presence at the major trade shows, "to be close to its customers," as he once said in an earlier interview with the WAZ editors.

No hint of discord
All this is consistent with the information from business circles. Apparently, Ostermann - does not stand yesterday for a personal statement available - have been accepted as the chief of the employees with whom one could speak of an ear for she had after being thrown apparently there is great uncertainty in the workforce, since the reasons completely lie in the dark. Ostermann had the shops at resonant adopted only in September last year. He had previously led a project to after the takeover by the Chinese construction company XCMG organizing cooperation.

Whether and why the Chinese majority shareholders were unhappy with Ostermann's corporate governance, can only speculate about it. In WAZ interview Ostermann had stressed that business decisions are taken independently in Crange and XCMG was interested in a valuable development of vibration. In addition, revenue and earnings would develop positively. In the interview, nothing had it to indicate that there is a falling out with the shareholders.

http://www.derwesten.de/staedte/nachrichten-aus-herne-und-wanne-eickel/raetselraten-um-blitz-rausschmiss-des-schwing-geschaeftsfuehrers-in-herne-id9229772.html

Well, watch out when you work for a Chinese outfit. Like a newspaper, news today fish & chips wrapper tomorrow.

How come a Chinese company has to borrow US Capital?

Make sure you have a good employement contract, great sign on payment.