Enerflex Announces Acquisition of US Gas Packager
According to
President and Chief Executive Officer Malcolm Cox, this acquisition is
an important step in achieving Enerflex’s long term strategic
objectives. “Revenue generated from sales outside of Canada now
represents more than 25% of our sales and going forward this trend will
accelerate. Geographic expansion, particularly into the United States,
is one of the key elements of our plan for the growth of Enerflex.
This acquisition strengthens our global capabilities and will
allow us to provide our American customers with Enerflex’s full range
of products and services.” “VR
Systems has a strong reputation for providing high quality products that
is an excellent fit with Enerflex.
The 20,000 square foot manufacturing facility is particularly
well placed to serve customers in the west Texas region and will also
support the packaging needs of Enerflex’s Houston sales office,”
continues Cox. “In
addition, the facility provides a base from which we will establish a
service and leasing presence in the United States. Enerflex plans to bring the expertise gained while becoming
the number one service and compression package provider in Canada
directly to the United States.” The purchase price for the operating assets of VR Systems, Inc. is approximately US$2.5 million. VR Systems’ sales were US$7.0 million in 2001. The Odessa facility will be operated through Enerflex’s wholly-owned subsidiary, Enerflex Systems, Inc. Enerflex
Systems Ltd. is headquartered in Calgary and has operations in Canada,
the United States, the United Kingdom, Germany, the Netherlands and
Australia. The Company’s shares trade on The Toronto Stock Exchange
under the symbol EFX. For further
information, please contact either:
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