CE Franklin Ltd. Acquires Western Canadian Oil Field Equipment Distributor



    CALGARY, June 1 /CNW/ - CE FRANKLIN LTD. (TSX.CFT, NASDAQ.CFK) announced
today that it has acquired a Western Canadian oil field equipment distributor
(the "Acquired Business"). The transaction will be financed from existing bank
credit facilities.
    The Acquired Business operates 22 oil field equipment supply stores
across the Western Canadian Sedimentary Basin of which 17 locations are
proximate to existing CE Franklin supply stores and will be integrated. The
remaining 5 locations will extend the market reach of CE Franklin's
distribution network to 49 locations. The Acquired Business is expected to
increase CE Franklin's annual revenue by more than 10% from current levels.
    "This acquisition will strengthen CE Franklin's existing store operations
and expand its market reach while improving our service capability, operating
efficiencies and customer base," stated Michael West, President and Chief
Executive Officer.

    About CE Franklin

    For more than half a century, CE Franklin has been a leading supplier of
products and services to the energy industry. CE Franklin distributes pipe,
valves, flanges, fittings, production equipment, tubular products and other
general oilfield supplies to oil and gas producers in Canada as well as to the
oilsands, refining, heavy oil, petrochemical, forestry and mining industries.
These products are distributed through its 49 branches, which are situated in
towns and cities serving particular oil and gas fields of the western Canadian
sedimentary basin.

    Forward-looking Statements: The information in this news release may
contain "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
and other applicable securities legislation. All statements, other than
statements of historical facts, that address activities, events, outcomes and
other matters that CE Franklin plans, expects, intends, assumes, believes,
budgets, predicts, forecasts, projects, estimates or anticipates (and other
similar expressions) will, should or may occur in the future are
forward-looking statements. These forward-looking statements are based on
management's current belief, based on currently available information, as to
the outcome and timing of future events. When considering forward-looking
statements, you should keep in mind the risk factors and other cautionary
statements and refer to the Form 20-F or our annual information form for
further detail.





For further information:

For further information: Investor Relations, 1-800-345-2858, (403)
531-5604, investor@cefranklin.com

Organization Profile

CE Franklin Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890