Universal Compression Expands Fabrication Operations with Acquisition of B.T. Engineering

HOUSTON, Jan. 18 -- Universal Compression Holdings, Inc. (NYSE:UCO) today announced that it has acquired B.T. Engineering Pte Ltd ("BTE"), a leading Singapore-based fabricator of oil and gas, petrochemical, marine and offshore equipment, including pressure vessels, FPSO (floating production, storage and offloading) process modules, terminal buoys, turrets, natural gas compression units and related equipment. BTE currently has approximately 400 full-time and contract employees and a fabrication yard of approximately 45,000 square meters, including a workshop facility of approximately 7,000 square meters, and 270 meters of waterfront.

"The BTE operation is an excellent addition to our international activities and a strategic complement to our existing fabrication capabilities," said Brad Childers, Senior Vice President and President of Universal's International Division. "With this transaction, Universal has expanded its product offering to meet a wider range of production-related customer requirements and added a centrally-located operation for the cost-efficient fabrication of compressor equipment for Asia-Pacific and other markets."

"BTE is pleased to be joining forces with Universal Compression," said B.T. Gay, BTE's founder and Chief Executive Officer. "We will continue our commitment to provide quality fabrication products and services to BTE's existing customers and traditional markets while also working to expand the market penetration of Universal's compression business lines."

"We are excited about this opportunity to expand our fabrication operations," said Stephen A. Snider, Universal's Chairman, President and Chief Executive Officer. "We look forward to working with the outstanding BTE management, administrative and fabrication employee team as we continue to seek growth opportunities in key international markets. In conjunction with this expansion of our global fabrication capacity, we plan to establish the regional headquarters for our Asia-Pacific operations in Singapore. Universal's current Asia-Pacific business includes natural gas compressor sales and service operations in Australia, China, Indonesia and Thailand."

Universal Compression Holdings, Inc., headquartered in Houston, Texas, is a leading natural gas compression services company, providing a full range of contract compression, sales, operations, maintenance and fabrication services to the domestic and international natural gas industry. Universal operates in North America, South America, Europe, Africa, Asia and Australia, employs over 3,000 people worldwide, had revenue of US$807 million in 2005 and has a current equity market capitalization of approximately US$1.8 billion. Additional company information is available through our website, universalcompression.com

Source: Universal Compression Holdings, Inc.

David Oatman,
Vice President, Investor Relations,
Universal Compression Holdings, Inc.

Web site: http://universalcompression.com/


All Topics