COMPANY NEWS

Hi-Tech Assets Purchased by Baxley Equipment
Feb 2006.- Baxley Equipment Company has purchased the assets of Hi-Tech Engineering, Inc.

     The assets include a 145,000 sqft. fabrication and office facility located on 13.9 acres in Hot Springs, Arkansas. Baxley Equipment was started in 2004 by Chris Raybon when he re-opened the 41,250 sqft. plant in Baxley, Georgia. He was joined later in 2004 by long time partners Pat Conry and Russell Kennedy. In January of 2005, a group was formed to purchase the assets of Hi-Tech Electronics. The group includes thirteen stockholder employees; Paul Caple, Ronnie Clem, Lamar Currington, Patrick Flemming, John Oliver, Joey Rogers, Donna Smith, Jada Smith, Philip Stevens, Ronnie Stewart, Darrell Taylor, Chris Taylor and Andy Trantham. According to Kennedy, "The employee ownership of Baxley Equipment makes us unique as an O.E.M. in the forest products equipment business. We have found that this ownership interest gives the customer a big advantage and has stepped up the level of service that we were able to provide in the past."

     Hi-Tech Engineering, Inc. was started in 1988 by the late John Fletcher and LC Gaither. They were joined in 1989 by Raybon, Conry & Kennedy who operated the company until selling their majority interest to Comact in January of 2000. Even though Baxley Equipment did not acquire or assume any on-going work, they did purchase all of the mechanical drawings and stand ready to assist you with any parts you may need for equipment manufactured by Hi-Tech. This strategic purchase has positioned Baxley Equipment to provide their customers with the products they need and the service they deserve. Most importantly, it should benefit Hi-Tech customers with continued equipment service and sales support.