HOUSTON, July 16 /PRNewswire/ -- Universal Compression Holdings, Inc.
(NYSE: UCO), a leading provider of natural gas compression services, today
announced that it has completed the acquisition of Louisiana Compressor
Maintenance Co., Inc. ("LCM") for approximately $25.7 million in cash.
"LCM is an outstanding supplier of maintenance, repair, overhaul and
upgrade services to natural gas pipeline and related markets," said
Stephen A. Snider, President and Chief Executive Officer. "With LCM and
recently acquired KCI, Inc., a producer of large horsepower compression units,
Universal now offers an integrated package of compression products and
services for both natural gas field and pipeline markets," added Snider.
Universal, headquartered in Houston, Texas, is a leading natural gas
compression services company, providing a full range of rental, sales,
operations, maintenance and fabrication services and products to the domestic
and international natural gas industry.
Statements about Universal's outlook and all other statements in this
release other than historical facts are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. 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 Universal's control, which could cause actual results to differ
materially from such statements. While Universal 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 important factors
that could cause actual results to differ materially from those indicated by
such forward-looking statements are integration and anticipated synergies of
LCM, KCI and other recent acquisitions, the demand for Universal's products
and services and operating conditions. These risk factors are discussed in
Universal's filings with the Securities and Exchange Commission, copies of
which are available to the public. Universal expressly disclaims any intention
or obligation to revise or update any forward-looking statements whether as a
result of new information, future events, or otherwise.
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SOURCE Universal Compression Holdings, Inc.
CONTACT: Investor Relations, David Oatman, Director of Universal Compression Holdings, Inc., 713-335-7460; or General Inquiries, Jeffrey Wilhoit of The Financial Relations Board-BSMG Worldwide, 312-640-6757