Benzinga | Aug 25, 2020 08:27AM EDT

Exterran Corporation Announces Agreement To Sell US Compression Fabrication Business; Terms Not Disclosed

HOUSTON, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Exterran Corporation (NYSE:EXTN) ("Exterran" or the "Company") today announced it has signed an agreement to sell its U.S. compression fabrication business.



The Company has signed an agreement with Compass Energy Systems Ltd. ("Compass") to sell them its U.S. compression fabrication business. The price and terms were not disclosed. The Company expects the transaction to close in the fourth quarter and is subject to customary conditions and purchase price adjustments.

Andrew Way, Exterran's President and Chief Executive Officer commented, "We are extremely pleased that we have reached an agreement to sell our U.S. compression fabrication business. This is not only a positive outcome for Exterran, but our employees and customers as well. We look forward to working with Compass in the future, and continuing to serve our customers globally for their needs."