Bri-Chem Closes Cement Blending Business Acquisition
December 03 2012 - 12:26PM
Marketwired
Bri-Chem Corp. ("Bri-Chem" or "Company") (TSX:BRY) a leading North
American wholesale distributor and manufacturer of oil and gas
drilling fluids and steel pipe is pleased to announce that it has
completed the acquisition of the assets and ongoing operations of
Kemik Inc. ("Kemik") a niche, Calgary-based chemical blender and
packaging company.
Strategic Acquisition - Kemik
The Kemik asset acquisition is strategically aligned with
Bri-Chem's business plan to pursue growth opportunities in
dry/liquid blending of a cementing, stimulation and fracturing
speciality fluid additives for the North America oil and gas
market. Management of Bri-Chem expects the Kemik acquisition to be
accretive to Bri-Chem's cash flow, EBITDA, and earnings.
About Bri-Chem
Since our formation in 1985, Bri-Chem has established two
primary segments of business through a combination of internal
growth and acquisitions: Bri-Chem's Drilling Fluid Division is
North America's largest independent wholesale supplier of drilling
fluids for the oil and gas industry. We provide over 100 drilling
fluid products, cementing, acidizing and stimulation additives from
25 strategically located warehouses throughout Canada and the
United States; Bri-Chem's Steel Pipe Division is the first company
to introduce and construct a Thermal Pipe Expansion (TPE) facility
in North America for manufacturing, testing and supply of large
diameter seamless steel pipe for the energy industry. Additional
information about Bri-Chem is available at www.sedar.com or at
Bri-Chem's website at www.brichem.com.
Forward Looking Statements
Certain information set forth in this news release contains
forward-looking statements or information ("forward-looking
statements"), including statements which may contain words such as
"could", "should", "expect", "anticipate", "believe", "will", and
similar expressions and statements relating to matters that are not
historical facts are forward looking statements. By their nature,
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond the Company's control,
including the impact of general economic conditions, industry
conditions, volatility of commodity prices, currency fluctuations,
environmental risks, demand for oilfield services for drilling and
completion of oil and natural gas wells; volatility in market
prices for steel, oil, natural gas, and natural gas liquids and the
effect of this volatility on the demand for oilfield services
generally, competition from other industry participants, the lack
of availability of qualified personnel or management, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although the Company believes that
the expectations in our forward-looking statements are reasonable,
our forward-looking statements have been based on factors and
assumptions concerning future events which may prove to be
inaccurate. Those factors and assumptions are based upon currently
available information. Such statements are subject to known and
unknown risks, uncertainties and other factors that could influence
actual results or events and cause actual results or events to
differ materially from those stated, anticipated or implied in the
forward looking information. As such, readers are cautioned not to
place undue reliance on the forward looking information, as no
assurance can be provided as to future results, levels of activity
or achievements. The risks, uncertainties, material assumptions and
other factors that could affect actual results are discussed in our
Annual Information Form and other documents available at
www.sedar.com. Furthermore, the forward-looking statements
contained in this document are made as of the date of this document
and, except as required by applicable law, the Company does not
undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement.
To receive Bri-Chem news updates send your email to
ir@brichem.com.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
Contacts: Bri-Chem Corp. Jason Theiss CFO (780) 455 8667
x237jtheiss@brichem.com www.brichem.com CHF Investor Relations
Juliet Heading Account Manager (416) 868-1079 x239juliet@chfir.com
CHF Investor Relations Cathy Hume CEO (416) 868-1079
x231cathy@chfir.com
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