Willbros Completes Acquisition of the Engineering Business of Wink Companies LLC

Thu Jul 9, 2009 4:22pm EDT
 
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  HOUSTON, TX, Jul 09 (MARKET WIRE) -- 
Willbros Group, Inc. (NYSE: WG) announced today that it has completed the
transaction to acquire the engineering business of Wink Companies LLC
("Wink"), Baton Rouge, Louisiana. The Company had previously announced a
definitive agreement to acquire Wink on June 18, 2009.

    Randy Harl, President and Chief Executive Officer, remarked, "We are
pleased to have expeditiously closed this strategic acquisition which
completes our downstream integrated engineering, procurement and
construction ('EPC') offering. We welcome Wink to Willbros and have
already begun integrating Wink into our Downstream segment and look
forward to offering customers a Willbros solution to their EPC needs."

    Willbros Group, Inc. is an independent contractor serving the oil, gas,
power, refining and petrochemical industries, providing engineering,
construction, turnaround, maintenance, life cycle extension services and
facilities development and operations services to industry and government
entities worldwide. For more information on Willbros, please visit our web
site at www.willbros.com.

    This announcement contains forward-looking statements. All statements,
other than statements of historical facts, which address activities,
events or developments the Company expects or anticipates will or may
occur in the future, are forward-looking statements. A number of risks and
uncertainties could cause actual results to differ materially from these
statements, including the potential for investigations; additional
disruptions to the global credit markets; the current global recession;
fines and penalties by government agencies; the identification of one or
more other issues that require restatement of one or more prior period
financial statements; the existence of material weaknesses in internal
controls over financial reporting; availability of quality management;
availability and terms of capital; changes in, or the failure to comply
with, government regulations; ability to introduce new services to the
markets served; ability to remain in compliance with, or obtain waivers
under, the Company's loan agreements and indentures; the promulgation,
application, and interpretation of environmental laws and regulations;
future E&P capital expenditures; oil, gas, gas liquids, and power prices
and demand, the amount and location of planned pipelines, the refinery
crack spread and planned refinery outages and upgrades, the effective tax
rate of the different countries where the work is being conducted,
development trends of the oil, gas, power, refining and petrochemical
industries; changes in the political and economic environment of the
countries in which the Company has operations, as well as other risk
factors described from time to time in the Company's documents and reports
filed with the SEC. The Company assumes no obligation to update publicly
such forward-looking statements, whether as a result of new information,
future events or otherwise.

    

CONTACT:
Michael W. Collier
Vice President Investor Relations
Sales & Marketing
Willbros
713-403-8038

Connie Dever
Director Strategic Planning
Willbros
713-403-8035

Copyright 2009, Market Wire, All rights reserved.

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