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Article: Ponder Industries to acquire Panther Oil Tools (U.K.) Ltd.
- Article from:
- Business Wire
- Article date:
- February 12, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALICE, Texas--(BUSINESS WIRE)--Feb. 12, 1996--Ponder Industries Inc. (NASDAQ, NM, BSE: PNDR), today announced it has signed an agreement to acquire Panther Oil Tools (U.K.) Ltd., an international, full service rental and fishing tool company headquartered in Aberdeen, Scotland. Ponder will pay $1.25 million in cash and 1.2 million shares of its common stock, a transaction valued at approximately $6 million. Panther is a 15-year-old, privately-held, international supplier of fishing tools with annual revenues of $3 million, and strong operating cash flow, with operations in the United Kingdom, Italy, France, Russia and the North Sea.
The acquisition is expected to be ...
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Article: Ponder to buy 2 firms.(Ponder Industries Inc., ...
The Oil Daily;
March 5, 1996 ;
612 words
...In its second and third acquisitions of 1996, Ponder Industries Inc. signed letters of intent Friday to buy a pair ... executive. Ponder bought the Scottish company Panther Oil Tools in January for $2.4 million in cash and stock.
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