Case Corporation acquires Bor-Mor Inc.; adds "trenchless" technology to Case's trencher line.RACINE, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--Jan. 13, 1997--Case Corporation (NYSE NYSE See: New York Stock Exchange :CSE (Certified Systems Engineer) See Microsoft certification. ) said today that it has acquired Bor-Mor (bor-mor) Inc., a directional drilling Directional drilling (sometimes known as slant drilling outside the oil industry) is the science of drilling non-vertical wells. Directional drilling can be broken down into three main groups: Oilfield Directional Drilling, Utility Installation Directional Drilling (commonly company based in Hugo, Minn. Terms of the agreement were not disclosed. "The acquisition of Bor-Mor adds `trenchless' technology to our construction equipment line which will enable us to expand our presence in the fast-growing cable and underground utility installation market," said Jean-Pierre Rosso, Case chairman, president and chief executive officer. "By combining Bor-Mor's directional drilling machines with our existing trencher business, we can provide our customers around the world with a complete equipment package for underground installation and thereby expand Bor-Mor's business." Directional drilling equipment enables contractors to drill underground trenches up to 2,500 feet long and more than 50 feet deep for installation of pipe, wire or cable. It is particularly effective in urban areas since it enables work to be done without cutting into streets, sidewalks or foundations. Bor-Mor has seven models of directional drilling equipment. The company was founded in 1991 by W.J. Lessard, a former utilities contractor. For 1996, the company is expected to post sales of approximately $8.5 million, a growth of more than 55 percent over 1995. "Approximately 40 percent of Bor-Mor's 1996 sales were outside of the U.S., reflecting the global need for directional drilling in the cable, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and utility industries. We believe we have the opportunity to substantially grow sales of these products worldwide through our extensive distribution network," Rosso added. About half of Bor-Mor's distribution is currently through Case construction equipment dealers. Case plans to offer directional drilling equipment through more of its dealers around the world, particularly those that distribute Case's trencher line. Case Corporation, with net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of nearly $5 billion in 1995, is headquartered in Racine, Wisconsin Racine is a city in Racine County, Wisconsin, United States, located beside Lake Michigan at the mouth of the Root River.[2] As of the 2006 census, the city had a total population of 79,592.[3] It is the county seat of Racine County. , and is a leading worldwide designer, manufacturer and distributor of agricultural and construction equipment. The company's products are sold through a network of approximately 4,100 independent dealers and distributors in more than 150 countries. Case Credit Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the company, services a portfolio of $4.1 billion of agricultural and construction equipment financing and leasing contracts. CONTACT: Case Corporation, Racine William B. Masterson, 414/636-5793 |
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