SERVICE SECTOR / Canadian Crude Separators Inc. Acquisition
CANADIAN CRUDE SEPARATORS INC. ACQUIRES OILFIELD
WASTE MANAGEMENT FACILITIES
Date: 7/22/98 1:55:06 PM
Stock Symbol: CCR
Canadian Crude Separators Inc. (CCS) announced today that it has
signed a conditional offer to purchase all of the assets of
Caprice Holdings Ltd. and Aggassiz Development Ltd., currently
operating as Edson Oil Cleaning & Water Disposal and Brazeau/Elk
River Oil Cleaning and Water Disposal. The two waste plants are
situated southeast of Edson and west of Drayton Valley and will
have an immediate positive impact on earnings. The closing is
anticipated on September 1, 1998, subject to due diligence and
required approvals.
Dave Werklund, CEO & President of CCS, said, "the acquisition of
two additional waste plants will give CCS strategic market share
in one of the largest oilfields in Canada."
CCS is a publicly traded (TSE-CCR), dynamic Calgary-based company
committed to "Safely Providing Environmentally Responsible
Solutions" to its customers. In operation since 1984, CCS has
grown, including this acquisition, to 13 oilfield waste
processing, custom treating, and disposal facilities throughout
Western Canada. CCS also operates 20 service rigs under the name
of Concord Well Servicing. |
