Exterran Holdings Provides Update on Spin-off of International Services and Global Fabrication Businesses
July 22 2015 - 10:07PM
Business Wire
Exterran Holdings, Inc. (NYSE:EXH) announced today that its
previously announced record date of July 22, 2015 and distribution
date of July 31, 2015 for the spin-off of its international
services and global fabrication businesses into a stand-alone,
publicly traded company named Exterran Corporation will change.
Exterran Holdings remains committed to closing the spin-off as soon
as practicable. When determined, Exterran Holdings will announce a
new record date and provide an update on its expectations for the
commencement of when-issued trading and the distribution date.
About Exterran Holdings
Exterran Holdings, Inc. is a global market leader in
full-service natural gas compression and a premier provider of
operations, maintenance, service and equipment for oil and gas
production, processing and transportation applications. Exterran
Holdings serves customers across the energy spectrum – from
producers to transporters to processors to storage owners.
Headquartered in Houston, Texas, Exterran has approximately 10,000
employees and operates in approximately 30 countries. Exterran
Holdings owns an equity interest, including all of the general
partner interest, in Exterran Partners, L.P. (NASDAQ: EXLP), a
master limited partnership, the leading provider of natural gas
contract compression services to customers throughout the United
States. For more information, visit www.exterran.com.
Upon completion of the spin-off, Exterran Holdings will be
renamed Archrock, Inc. Archrock will be the leading provider of
natural gas contract compression services to customers throughout
the United States. In addition, Archrock will be a leading supplier
of aftermarket services to customers that own compression equipment
in the United States. Archrock will be headquartered in Houston,
Texas, operating in the major oil and gas producing regions in the
United States, with approximately 2,500 employees. Archrock will
continue to own an equity interest, including all of the general
partner interest, in Archrock Partners, L.P. (which Exterran
Partners will be renamed upon completion of the spin-off).
About Exterran Corporation
Exterran Corporation will be a market leader in compression,
production and processing products and services, serving customers
throughout the world engaged in all aspects of the oil and natural
gas industry. Its global product lines will include natural gas
compression, process & treating and production equipment and
water treatment solutions. Outside the United States, Exterran
Corporation will be a leading provider of full-service natural gas
contract compression and a supplier of new, used, OEM and
aftermarket parts and services. Exterran Corporation will be
headquartered in Houston, Texas, and will operate in approximately
30 countries with approximately 7,000 employees.
Forward-Looking Statements
All statements in this release (and oral statements made
regarding the subjects of this release) other than historical facts
are forward-looking statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors, many of which are outside Exterran
Holdings’ control, which could cause actual results to differ
materially from such statements. Forward-looking information
includes, but is not limited to: Exterran Holdings’ plan to
separate and spin-off its international services and global
fabrication businesses into a stand-alone, publicly traded company
named Exterran Corporation, the timing of the record date for the
spin-off, the timing of the distribution of Exterran Corporation
common stock, the timing of trading in Exterran Holdings and
Exterran Corporation prior to the distribution date and the
possibility that the proposed spin-off will be consummated.
While Exterran Holdings believes that the assumptions concerning
future events are reasonable, it cautions that there are inherent
difficulties in predicting certain important factors that could
impact the future performance or results of its business. Among the
factors that could cause results to differ materially from those
indicated by such forward-looking statements are: local, regional,
national and international economic conditions and the impact they
may have on Exterran Holdings and its customers; changes in tax
laws that impact master limited partnerships; conditions in the oil
and gas industry, including a sustained decrease in the level of
supply or demand for oil or natural gas or a sustained decrease in
the price of oil or natural gas; delays, costs and difficulties
that could impact the completion and expected results of the
proposed separation transaction; Exterran Holdings’ ability to
timely and cost-effectively execute larger projects; changes in
political or economic conditions in key operating markets,
including international markets; any non-performance by third
parties of their contractual obligations; changes in safety,
health, environmental and other regulations; and the performance of
Exterran Partners.
These forward-looking statements are also affected by the risk
factors, forward-looking statements and challenges and
uncertainties described in Exterran Holdings’ Annual Report on Form
10-K for the year ended December 31, 2014, Exterran Corporation’s
Registration Statement on Form 10 and Exterran Holdings’ filings
with the Securities and Exchange Commission, which are available at
www.exterran.com. Except as required by law, Exterran Holdings and
Exterran Corporation expressly disclaim any intention or obligation
to revise or update any forward-looking statements whether as a
result of new information, future events or otherwise.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the senior notes due 2022 or any
other securities.
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version on businesswire.com: http://www.businesswire.com/news/home/20150722006563/en/
Exterran Holdings, Inc.Susan Moore, 281-836-7398MediaorDavid
Oatman, 281-836-7035Investors
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