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WEATHERFORD COMPLETES ACQUISITION

 WEATHERFORD COMPLETES ACQUISITION
 HOUSTON, Nov. 11 /PRNewswire/ -- Weatherford International


(AMEX: WII) announced today it has acquired the Gemoco Division of Sequa Engineered Services, Inc., for approximately $7.1 million.
 Gemoco, located in Houma, La., manufactures and sells cementation products used in oil and gas wells. It also supplies replacement parts for process industry control valves. Gemoco's 1991 revenues exceeded $20 million.
 "We are extremely pleased with this acquisition," said Philip Burguieres, president and chief executive officer of Weatherford. "The Gemoco purchase allows us to strengthen one of our core businesses and makes us the leading manufacturer and supplier of primary cementation products worldwide. We also anticipate that there will be substantial cost savings resulting from the acquisition."
 Howard, Weil, Labouisse, Friedrichs Incorporated served as financial advisor to Weatherford in connection with this transaction.
 Weatherford is a diversified international energy service and manufacturing company that provides tubular running and fishing services, rents specialized equipment and fishing tools and sells products and equipment, including cementation products, to the oil and gas industry. Weatherford trades on the American Stock Exchange under the symbol WII.
 Sequa Engineered Services is a unit of Sequa Corporation (NYSE: SQA), a diversified technology-based company listed on the New York Stock Exchange. Sequa's principal business interests include aerospace, machinery and metal coatings, specialty chemicals and professional services.
 -0- 11/11/92
 /CONTACT: Norman W. Nolen, chief financial officer of Weatherford International, 713-439-9400/
 (WII SQA) CO: Weatherford International; Sequa Engineered Services, Inc. ST: Texas, Louisiana IN: OIL SU: TNM


BR-BN -- AT002 -- 9764 11/11/92 13:26 EST
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Publication:PR Newswire
Date:Nov 11, 1992
Words:258
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