Furmanite – FRM – Acquires Crane’s Valve Service
Furmanite Corporation (NYSE: FRM), one of the world’s largest providers of Valve Services, announced that it has acquired certain assets and operations of Crane Energy Flow Solutions’ Houston Service Center. FRM 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 FRM’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.
About Furmanite Corporation – FRM
Furmanite (FRM) is the worldwide innovator and leader in comprehensive on-site and on-line plant and pipeline maintenance. FRM is the worldwide innovator and leader in comprehensive on-site and on-line plant and pipeline maintenance. FRM’s single mission and goal is to Maximize Asset Uptime for its customers from many industries by providing services such as leak sealing, hot tapping and line stopping, on-site machining and field heat treatment and more. Specifically, everything Furmanite does directly relates to keeping an asset up, productive and profitable; be it a pipeline, a plant, or personnel.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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