Business
FORACO INTERNATIONAL REPORTS Q3 2010
FORACO INTERNATIONAL REPORTS Q3 2010
About this update from Foraco International Sa
[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES NOR FOR DISSEMINATION\n IN THE UNITED STATES/\n\n\n80% Increase in Revenue; Improving Market Conditions; 2010 Acquisitions\n Fully Consolidated in Q3 \n\n\nTORONTO and MARSEILLE, France, Nov. 15 /CNW/ - Foraco International SA\n (TSX:FAR) (the "Company" or "Foraco"), a leading global provider of\n diversified drilling services, today reported unaudited financial\n results for its third quarter of 2010. All figures are reported in US\n Dollar (US$), unless otherwise indicated.\n\n\n"Q3 has been a very busy quarter for us, since we initiated the\n integration of Adviser and EDC, while the mining market, which\n represents today 87% of our revenue, showed an increasing activity in\n most of our regions. Meanwhile our more traditional water segment\n continues to be soft," said Daniel Simoncini, Chairman and Chief\n Executive Officer of Foraco. "Our main focus is to smoothly integrate\n our new acquisitions, optimize synergies between areas and to grow the\n profitability of the Company. We are pleased with the activity levels\n and prospects in our recently opened markets of Australia, Russia and\n Latin America."\n\n\n"Our Q3 2010 performance is a combination of increased revenue with\n stable high margins on Foraco's historical areas of operations and the\n improving contribution of Adviser, though we do consider that the...