QUINCY, Ill., April 1 /PRNewswire/ -- Gardner Denver, Inc. (NYSE: GDI)
reported the acquisition of the Allen-Stuart Equipment Company in a cash for
stock transaction. Allen-Stuart, located in Houston, Texas, designs and
fabricates custom-engineered packages for blower and compressor equipment in
air and gas applications. For the year ended May 31, 1998, Allen-Stuart's
revenues were approximately $14 million.
Ross Centanni, Chairman, President and Chief Executive Officer of Gardner
Denver said, "Allen-Stuart serves a wide variety of industrial companies,
including petrochemical, power generation, oil and gas production and
refining. The addition of this company greatly enhances Gardner Denver's
ability to supply engineered packages, incorporating the wide range of
compressor and blower products we manufacture. It also enables us to
establish a service center near key Southwestern customers."
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. Cornel, Vice President, Corporate
Secretary and Treasurer of Gardner Denver, Inc., 217-228-8209
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