Investors: 2005 Press Release Archive
HSE to Acquire Assets and Business of Standard Safety Services
NEWS RELEASE – August 3, 2005
HSE Integrated Ltd. (“HSE”) is pleased to announce that it has entered into a letter of intent to acquire the key assets and related oilfield safety services business of Standard Safety and Consulting Services (1978) Ltd. (“Standard”) of Edmonton, Alberta in an all-cash transaction for an undisclosed purchase price. The acquisition is expected to close by August 22, 2005.
Founded in 1962, by Chris Christensen Sr., Standard was a pioneer in Canadian oilfield services, specializing in protecting workers in high hazard operating environments. Standard established itself as an undisputed industry leader in this highly specialized field by consistently providing it’s customers with top quality equipment and highly trained personnel. All of Standard’s personnel, including the founder’s sons Larry Christensen and Chris Christensen Jr., will be offered positions with HSE to ensure continuity and to help HSE build upon Standard’s commitment to excellence and reputation for quality, service, and integrity.
David Yager, Chairman and CEO of HSE, had the following comments on the Standard transaction.
“To have such a legendary competitor as Standard, join our team and to carry on their proud tradition is as much an honor for HSE as it is a business acquisition. Our mission is to be the largest and most respected supplier of industrial safety services in Canada. This transaction is another important step towards fulfilling this objective. HSE’s intention is to make the Standard “standard” the benchmark for HSE’s overall business.”
HSE is an integrated supplier of industrial Health, Safety and Environmental services. From its head office in Calgary, Alberta, it serves its clients from numerous field service locations in Alberta, British Columbia, Ontario, Nova Scotia and Michigan. HSE trades on the TSX Venture Exchange under the symbol "HSL".
Forward Looking Statements
Statements in this document that may be considered forward-looking are based on management's current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information please contact:
David Yager, Chairman & CEO
Telephone: (403) 266-1833
E-Mail:
Tony Hidalgo, Chief Financial Officer
Telephone: (403) 266-1833
E-Mail: