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8-K - FORM 8-K - ENPRO INDUSTRIES, INC | g26135e8vk.htm |
EX-99.1 - EX-99.1 - ENPRO INDUSTRIES, INC | g26135exv99w1.htm |
Exhibit 99.2
News Release
Investor Contact: Phone: |
Don Washington Director, Investor Relations and Corporate Communications 704-731-1527 |
EnPro Industries 5605 Carnegie Boulevard Charlotte, North Carolina 28209-4674 Phone: 704-731-1500 Fax: 704-731-1511 www.enproindustries.com |
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Email:
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don.washington@enproindustries.com |
EnPro Industries Announces Agreement to
Acquire the Mid Western Companies
Acquire the Mid Western Companies
CHARLOTTE, N.C., February 15, 2011 EnPro Industries, Inc. (NYSE: NPO), a leading manufacturer of
engineered industrial products, announced today that it has reached an agreement to acquire the Mid
Western companies, privately held businesses primarily serving the oil and gas drilling, production
and processing industries of Western Canada.
The Mid Western companies are composed of Mid Western Compressor Supplies, Inc. and Mid Western
Machine Works Inc. The companies capabilities include servicing and rebuilding reciprocating
compressors, designing and installing lubrication systems and servicing and repairing a variety of
other equipment used in the oil and gas industry. The companies employ approximately 110 people at
locations in Calgary, Edmonton and Grand Prairie, Alberta. They will be managed as part of EnPros
Compressor Products International (CPI) operations.
We are pleased to welcome the Mid Western Companies and their employees to EnPro, said Steve
Macadam, president and chief executive officer. The companies are well known for the high quality
parts and services they produce and for quick delivery to their customers. These are attributes
that we value very highly at EnPro and that will contribute to CPIs growing reputation as a
leading international presence in its markets.
Mid Western marks the third acquisition we have announced this year and the seventh we have
announced since we reached an agreement to sell Quincy Compressor in late 2009, Macadam continued.
After the closing of the Mid Western transaction, we will have fully reinvested the proceeds
from the sale of Quincy to make acquisitions which expand our markets and product offerings and
provide attractive opportunities for growth.
The company expects to complete the Mid Western acquisitions for cash before the end of the first
quarter of 2011; terms were not disclosed.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings,
components and service for reciprocating compressors, diesel and dual-fuel engines and other
engineered products for use in critical applications by industries worldwide. For more information
about EnPro, visit the companys website at http://www.enproindustries.com.