CE Franklin Ltd. Acquires East-Central Alberta Oil Field Equipment Distributor

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[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 3 /CNW/ - CE Franklin Ltd. (TSX.CFT, AMEX.CFK) announced\ntoday that it has acquired JEN Supply Inc. ("JEN Supply"). The transaction\nwill be financed from available bank credit facilities and is expected to be\naccretive to CE Franklin shareholders.\n\n\nJEN Supply is based in Stettler, Alberta, Canada and operates four oil\nfield equipment supply stores in east-central Alberta. JEN Supply was founded\nin 1997 and has grown profitably, with revenues of approximately $22 million\nfor the last 12 months. JEN Supply has been acquired on a debt free basis.\n\n\n"JEN Supply is a leading supplier to the oil and gas industry in\neast-central Alberta with a reputation for quality service," said Michael\nWest, Chairman, President and CEO. "The combination of JEN Supply and CE\nFranklin's operations and talent in the east-central Alberta market will\nstrengthen CE Franklin's market presence and reach, resulting in improved\ncustomer service capability and operating efficiencies."\n\n\nAbout CE Franklin\n\n\nFor more than half a century, CE Franklin has been a leading supplier of\nproducts and services to the energy industry. CE Franklin distributes pipe,\nvalves, flanges, fittings, production equipment, tubular products and other\ngeneral oilfield supplies to oil and gas producers in Canada as well as to the\noilsands, refining, heavy oil, petrochemical, forestry and mining industries.\nThese products are distributed through its 42 branches, which are situated in\ntowns and cities serving particular oil and gas fields of the western Canadian\nsedimentary basin.\n\n\nForward-looking Statements: The information in this news release may\ncontain "forward-looking statements" within the meaning of Section 27A of the\nSecurities Act of 1933 and Section 21E of the Securities Exchange Act of 1934\nand other applicable securities legislation. All statements, other than\nstatements of historical facts, that address activities, events, outcomes and\nother matters that CE Franklin plans, expects, intends, assumes, believes,\nbudgets, predicts, forecasts, projects, estimates or anticipates (and other\nsimilar expressions) will, should or may occur in the future are\nforward-looking statements. These forward-looking statements are based on\nmanagement's current belief, based on currently av...

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