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Gold/Mining/Energy : Core Laboratories (CLB)

CLB 15.94

-0.1%

Oct 31 9:30 AM EST

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To: polarisnh who wrote (27)	7/17/1999 11:02:00 PM
From: polarisnh	Read Replies (1) of 39

Core Laboratories to Sell Environmental Testing Business HOUSTON, July 16 /PRNewswire/ -- Core Laboratories (NYSE: CLB - news) announced today that it has signed a letter of intent to sell the assets of its Environmental Testing business to Severn Trent Laboratories Inc., a Delaware Corporation. This divestment will allow Core to better focus on growth strategies related to its oilfield services business. The disposition of these assets will not have a material effect on the book value and earnings for Core Laboratories during 1999. Core Laboratories N.V. is a leading provider of proprietary and patented reservoir description, production enhancement, reservoir management and reservoir monitoring services. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world. The Company's outlook is subject to various important cautionary factors as more fully described in the Company's 1998 Form 10-K filed 31 March, 1999, and in other securities filings.

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