QUINCY, Ill., Feb. 18 /PRNewswire/ -- Gardner Denver, Inc. (NYSE: GDI), a
leading manufacturer of compressors and blowers for industrial applications
and pumps for the petroleum industry, announced today that it is exploring a
long-term strategic alliance with Samsung Aerospace Industrial Co. (Q.SAI) of
South Korea for the distribution, sales and manufacturing rights of the Turbo
Master centrifugal compressor for North and South America and certain European
countries.
Ross J. Centanni, Chairman, President and CEO of Gardner Denver stated,
"If consummated, this alliance would provide Gardner Denver with a natural
extension of its existing reciprocating and rotary screw compressor products
lines and enhance its ability to penetrate various niche markets with
engineered package applications. The Company is excited about the
opportunities that an alliance with Samsung could present, but recognizes that
the product development time required to introduce this new line will preclude
significant incremental revenues and expenditures in the early years of the
alliance."
Gardner Denver, with 1998 revenues of $385 million, is a leading
manufacturer of reciprocating, rotary and vane compressors and blowers for
various industrial applications and pumps used in the petroleum industry.
Gardner Denver's news releases are available by fax by calling 800-758-5804,
extension 303875, or by visiting the Company's home page on the Internet
( http://www.gardnerdenver.com ).
SOURCE Gardner Denver, Inc.
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Related links:
http://www.gardnerdenver.com
Company News On-Call:
http://www.prnewswire.com/comp/303875.html or fax,
800-758-5804, ext. 303875
CONTACT:
Helen W. Cornell, Vice President, Corporate
Secretary and Treasurer of Gardner Denver, 217-228-8209
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