EDMONTON, Dec. 2, 2013 /CNW/ - McCoy Corporation ("McCoy" or "the Company") (TSX: MCB) (OTCQX: MCCRF), today announced that it has opened the second of its four planned international sales and service centers. Based in Singapore, McCoy Global Singapore Pte. Ltd. will provide a platform to service customers in the Asia Pacific region.
"Singapore is strategic location that will support the Asia Pacific drilling and completions markets, which have experienced an increase in offshore drilling activity over the past three years," said Jim Rakievich, President and CEO of McCoy. "Our international technical sales and service strategy aims to optimize customer responsiveness and increase lifecycle revenue opportunities. We are looking forward to establishing two additional sales and service centers in Middle East and Latin America in 2014."
In addition to the expansion of the U.S. and Canadian sales and service operations in Houston and Edmonton earlier this year, McCoy opened its first international sales and service location in Aberdeen, Scotland in August 2013, and has plans to open two additional international facilities during 2014. The Company shipped products to 51 countries in 2012, with international Energy Products and Services sales increasing more than 39 percent compared to 2011.
This News Release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by McCoy, including expectations and assumptions concerning fluctuations in the level of oil and gas industry capital expenditures, McCoy's ability to integrate acquired businesses and complete strategic acquisitions of additional businesses and other factors that affect demand for McCoy's products. Although McCoy believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because McCoy can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause McCoy's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, fluctuations in oil and gas prices, fluctuations in the level of oil and gas industry capital expenditures and other factors that affect demand for McCoy's products, industry competition, the need to effectively integrate acquired businesses, uncertainties as to McCoy's ability to implement its business strategy effectively in Canada and the United states, labour, equipment and material costs, access to capital markets, interest and McCoy's ability to attract and retain key personnel. Additional information on these and other factors is available in continuous disclosure materials filed by McCoy with Canadian securities regulators. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this News Release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. McCoy undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
McCoy provides innovative products and services to the global energy industry. McCoy's two segments, Energy Products & Services and Mobile Solutions, operate internationally through direct sales and distributors with its operations based out of Western Canada and the U.S. Gulf Coast. McCoy's corporate office is located in Edmonton, Alberta, Canada with offices in Alberta, British Columbia, Louisiana, Texas, Aberdeen and Singapore.
SOURCE: McCoy Corporation
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