QUINCY, Ill., July 18 /PRNewswire/ -- Gardner Denver, Inc. (NYSE: GDI)
announced today that it has received an additional order for drilling pumps
from Helmerich & Payne International Drilling Co., a subsidiary of Helmerich &
Payne, Inc. (NYSE: HP). The amount of the order is approximately $7 million
and requires deliveries throughout the second half of 2002. The Gardner
Denver PZ-11 pumps, rated at 1600 horsepower, will be used on Helmerich &
Payne's expanding fleet of oil and gas drilling rigs for operations requiring
pressures of 5000-7500 pounds per square inch. This order is in addition to
the order from Helmerich & Payne of over $12 million announced by the Company
on June 14, 2001.
"Once again, we are pleased that Helmerich & Payne has chosen Gardner
Denver to continue to be a key supplier in their efforts to modernize and
expand their rig fleet," stated Ross J. Centanni, Chairman, President and CEO
of Gardner Denver. "The size and lead times of these two orders will allow
for more efficient use of resources within our operations while maintaining
the ability to respond quickly and offer timely delivery of pumps to meet our
customers' demand."
Gardner Denver, with 2000 revenues of $379 million, is a leading
manufacturer of reciprocating, rotary and vane compressors and blowers for
various industrial applications and pumps used in the petroleum and industrial
markets. Petroleum Products segment revenues for 2000 were $58 million.
Gardner Denver's news releases are available by facsimile (+1-800-758-5804,
extension 303875) or by visiting the Company's website
( http://www.gardnerdenver.com ).
All of the statements in this release, other than historical facts, are
forward-looking statements made in reliance upon the safe harbor of the
Private Securities Litigation Reform Act of 1995. As a general matter,
forward-looking statements are those focused upon anticipated events or trends
and expectations and beliefs relating to matters that are not historical in
nature. Such forward-looking statements are subject to uncertainties and
factors relating to Gardner Denver's operations and business environment, all
of which are difficult to predict and many of which are beyond the control of
the Company. These uncertainties and factors could cause actual results to
differ materially from those matters expressed in or implied by such forward-
looking statements. Further discussion of these uncertainties and factors is
contained in Gardner Denver's 10-Q filed with the Securities and Exchange
Commission on May 14, 2001.
SOURCE Gardner Denver, Inc.
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Related links:
http://www.gardnerdenver.com
CONTACT:
Philip R. Roth, Vice President, Finance and
Chief Financial Officer of Gardner Denver, Inc., +1-217-228-8205
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