Furmanite Acquires Crane’s Houston Valve Service Assets and Operations
HOUSTON, TEXAS (July 2, 2012) – Furmanite Corporation (NYSE: FRM), one of the world’s largest providers of Valve Services, today announced that it has acquired certain assets and operations of Crane Energy Flow Solutions’ Houston Service Center. Furmanite will continue to provide the outstanding level of customer service that has become a hallmark of this world class operation, with transition of operations expected to be effectively completed today. Customers should experience no significant change other than the availability of Furmanite’s extensive range of additional services.
As part of the Furmanite Global Service Delivery Network, the Houston Service Center will be the exclusive Authorized Repair Center for certain Crane products in the territory currently served by the Houston Service Center. Additionally, Furmanite and Crane have agreements in place that will allow Furmanite to manufacture and sell Wedgeplug® brand spare parts, and support Crane’s contract machining needs and services in Western Canada.
The Houston Service Center will continue as a full range supplier of valve maintenance, repair, and testing services, including its unique capability to service actuators as well as valves. The Center will also continue to service all makes of block valves, pressure relief valves for steam, air and liquids and control valves.
“With the addition of this 81,000+ square foot Valve Service Center, we solidify Furmanite’s position as the preeminent turnkey valve service company on the Gulf Coast, and greatly expand our capabilities to serve customers in the region,” said Clint Jordan, Executive Vice President of Furmanite’s Global Service Delivery Center Network.
“Today we welcome the addition of not only significant “state of the art” equipment and new capabilities, but also an extraordinary team of professional field and shop service personnel. We are excited to now have these fine people as part of the world-wide Furmanite team!” concluded Jordan.