CE Franklin Ltd. Acquires Western Canadian Oil Field Equipment Distributor
2009年6月1日 - 9:54PM
PRニュース・ワイアー (英語)
CALGARY, June 1 /PRNewswire-FirstCall/ -- CE FRANKLIN LTD.
(TSX.CFT, NASDAQ.CFK) announced today that it has acquired a
Western Canadian oil field equipment distributor (the "Acquired
Business"). The transaction will be financed from existing bank
credit facilities. The Acquired Business operates 22 oil field
equipment supply stores across the Western Canadian Sedimentary
Basin of which 17 locations are proximate to existing CE Franklin
supply stores and will be integrated. The remaining 5 locations
will extend the market reach of CE Franklin's distribution network
to 49 locations. The Acquired Business is expected to increase CE
Franklin's annual revenue by more than 10% from current levels.
"This acquisition will strengthen CE Franklin's existing store
operations and expand its market reach while improving our service
capability, operating efficiencies and customer base," stated
Michael West, President and Chief Executive Officer. About CE
Franklin For more than half a century, CE Franklin has been a
leading supplier of products and services to the energy industry.
CE Franklin distributes pipe, valves, flanges, fittings, production
equipment, tubular products and other general oilfield supplies to
oil and gas producers in Canada as well as to the oilsands,
refining, heavy oil, petrochemical, forestry and mining industries.
These products are distributed through its 49 branches, which are
situated in towns and cities serving particular oil and gas fields
of the western Canadian sedimentary basin. Forward-looking
Statements: The information in this news release may contain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and other applicable securities legislation.
All statements, other than statements of historical facts, that
address activities, events, outcomes and other matters that CE
Franklin plans, expects, intends, assumes, believes, budgets,
predicts, forecasts, projects, estimates or anticipates (and other
similar expressions) will, should or may occur in the future are
forward-looking statements. These forward-looking statements are
based on management's current belief, based on currently available
information, as to the outcome and timing of future events. When
considering forward-looking statements, you should keep in mind the
risk factors and other cautionary statements and refer to the Form
20-F or our annual information form for further detail. DATASOURCE:
CE Franklin Ltd. CONTACT: Investor Relations, 1-800-345-2858, (403)
531-5604,
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