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Wenzel Downhole Tools Ltd. Announces Canadian Distributorship.

Business Editors

CALGARY, Alberta & EDMONTON, Alberta--(BUSINESS WIRE)--Aug. 24, 2000

The Board of Directors of Wenzel Downhole Tools Ltd. (TSE:WZL.) is pleased to announce that the Company has become the Canadian distributor for the complete product line of American Augers.

In addition to providing sales and service for American Augers' products throughout Canada, Wenzel will also bundle its own extensive range of products with the drill rigs. As part of the distribution agreement, American Augers will distribute Wenzel products throughout their United States distribution system. This latest development continues to move Wenzel closer to our goal of being able to provide the most complete range of products to the utility installation market. The first drill brought into inventory will be located in Wenzel's Mississauga, Ontario location.

"Wenzel will be an excellent match with our products," said Roger Eve, president of American Augers. "They have good contacts in the areas where our trenchless products are used, and their sales team has extraordinary experience in our industry. At the same time, our products have the features to use Wenzel tools to their utmost performance."

American Augers is a wholly owned subsidiary of Astec Industries Inc. which trades on the NASDAQ National Market under the symbol ASTE. In November 1999, Astec was featured in the "Fastest-Growing Companies in America" section of American Augers is the leading manufacturer of machines and accessories exclusively for the growing trenchless construction market. Its main products are horizontal earth boring machines, horizontal directional drills, and drilling fluid systems. The company designs and manufactures auger boring, directional drilling, and drilling fluid mixing, pumping and cleaning equipment at its plant in West Salem, Ohio. Those products are sold to the utility and pipeline industries. American Augers is the worldwide leader in the development and usage of large directional drilling rigs.

Wenzel Downhole Tools Ltd. is an Edmonton, Alberta based company that designs, manufactures and distributes drilling tools to oilfield and utility markets around the world. The Company's patented designs can be found in most areas where tools are being used for underground fibre optic cable installation. The Company has sold or leased tools in Canada, the United States, Europe, Asia, South America and Australia and has tools operating in most areas of the world where holes are being drilled.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Publication:Business Wire
Date:Aug 24, 2000
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