STEWART & STEVENSON RECEIVES TWO CONTRACTS
STEWART & STEVENSON RECEIVES TWO CONTRACTS HOUSTON, April 16 /PRNewswire/ -- Stewart & Stevenson Services, Inc.
(NASDAQ: SSSS), a leading manufacturer of diesel and gas turbine powered equipment, announced it has received two separate contracts totaling approximately $12 million for delivery of petroleum equipment to be used in well stimulation applications.
One contract with Russian Siberian Production Association calls for delivery of five 2,250-horsepower pumping units, a blender, computer van and a manifold truck. This entire complement of equipment, referred to as a "frac-spread," will be used to stimulate flow rates within one of Russia's numerous oilfields. Under a second contract, Jilin, a Chinese oilfield, purchased a similar spread of well stimulation equipment consisting of six 1,550-horsepower pumping units, two blenders, two computer vans and a manifold truck. Both orders will be delivered in the third quarter of 1992. While the oil service equipment market has been severely depressed within the United States, Stewart & Stevenson has aggressively sought contracts abroad, as evidenced by these most recent contracts. This is the second order recently received by the company for delivery of petroleum products to Russia. -0- 4/16/92 /CONTACT: David R. Stewart of Stewart & Stevenson Services, 713-868-7657/ (SSSS) CO: Stewart & Stevenson Services Inc. ST: Texas IN: SU: CON
SH -- NY046 -- 9221 04/16/92 11:09 EDT
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|Date:||Apr 16, 1992|
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