July 13, 2010
 
To:                   Schwing America Customers, Employees and Suppliers
 
From:               Brian Hazelton
 
Subject:            Schwing America Exit From Chapter 11
 
On behalf of everyone at Schwing America, I am extremely pleased to announce our successful exit from Chapter 11.  Our plan of reorganization was confirmed this morning in Federal Bankruptcy Court by Judge Dreher.  Early tomorrow we will complete the payoff of our current lenders with funding from the pool of European banks.  With this new funding in place, we will move forward in the reorganization and growth of Schwing America.
 
There are many people to recognize for their hard work and to thank for their support.  We would like to start by thanking our customer base for the way in which you stood by us throughout this process.  Your investment and belief in the people and products of Schwing America have made this company what it is today and will be the basis for our growth in the future. 
 
To our suppliers, we would like to thank you for the way in which you have worked through this difficult process with us.  Many of you are creditors under our plan of reorganization and we appreciate the positive way in which you supported our plan.  Our attorneys were amazed that in reviewing the votes received for the plan, we did not receive a single vote against our Plan of Reorganization.
 
On a personal note to each of the employees of Schwing America, I want to thank you for the hard work and sacrifice which each of you made throughout these challenging economic times and specifically during our time in Chapter 11.  Without your personal commitment to Schwing America, our future would not be as strong as it is today.
 
To Gerhard Schwing, his family and the Senior Management of Schwing GmbH, we would like to thank you for your faith in and support of the people at Schwing America and for the hard work and sacrifices each of you made to secure our future. 
 
Looking forward, we see a market for our products which is improving and will continue to do so in the coming years.  Throughout the rest of 2010 and into early 2011 we will be bringing new models and technologies to market for our boom pump, truck mixer, batch plant, and trailer pump product lines.  The successful launch of SchwingParts.com will be enhanced with greater on-line inventory and broader customer coverage.  South of the U.S., Schwing Mexico is now fully up to speed and the sales activity is increasing at a greater rate than forecasted.  In general, we are very well positioned to take advantage of the opportunities which are in front of us.
 
Successfully exiting Chapter 11 is an accomplishment which we are all very proud of.  However, all of us at Schwing America fully understand we cannot let up and must remain fully committed to the lessons learned during the past nine plus months.  These lessons will make Schwing America a smarter and more efficient company and one which will continue to provide the best products and support to our customers.  Again, on behalf of all of our employees, I thank you for your support, confidence and business.
 
Best Regards,
 
Brian Hazelton
Chief Executive Officer
Schwing America, Inc.

This is very good news and I know everyone was pulling for Schwing.

Congratulations Schwing !! you have alot of loyal people pulling for you and all Schwing stands for.

This is fantastic news from Schwing and a great sign that the economy is turning for the better. I would like to congratulate everyone at Schwing for their hard work and dedication to our industry and wish them all the success in the future.

Good for them,and for the surrounding workers.

not to be negative,but the economy has nothing to do with schwings exit from chapter 11, it all has to do with schwing germany and the banks overseas, they are not selling any more pumps than they did yesterday or 6 months ago

great news

They are out of chapter 11 because of the same reason the last American car company [that is not owned by the Obama administration] is still doing good.  Ford motor company has, in my opinion always built the best cars and trucks in America.  And even in this horrible economy they are still making a decent profit.

Schwing has, and always will,  build the very best concrete pump in the world.  ]

Thats why they are pulling out of chapter 11.

Congratulations Schwing America!

Nicely said Bigstick! but I still love Chrysler... and Schwing of course.