PASON SYSTEMS INC. ANNOUNCES CLOSING OF REPURCHASE OF LATIN AMERICA DISTRIBUTION RIGHTS.

About this update from Pason Systems Inc.

[{"type":"text","content":"\n\n\n\n Jan. 4, 2011 (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\nStock Exchange: TSX \nSymbol: PSI\n\n\nCALGARY, Jan. 4 /CNW/ - Pason Systems Inc. (TSX: PSI) is pleased to\n advise that its previously announced (October 13, 2010) decision to\n repurchase the distribution rights for marketing Pason products in\n Latin America closed on December 31, 2010. The rights were repurchased\n through an acquisition of 100% the shares of the DGS Latin American\n companies for US$10.1 million in cash. As a result of the repurchase\n Pason will benefit from 100% of the revenue and earnings in these\n countries which Pason expects to be approximately US$10.0 million of\n additional revenue and US$4.0 million of EBITDA in 2011.\n\n\nPason Systems Inc. \nPason Systems Inc. is a leading provider of instrumentation systems to\n land-based and offshore drilling rigs worldwide. The company's rental\n and sold solutions, which include data acquisition, wellsite reporting,\n remote communications, and web-based information management, maximize\n rig uptime, improve work efficiency, and minimize operating costs.\n Pason's common shares trade on the Toronto Stock Exchange under the\n symbol PSI.\n\n\n\n\nabout Pason Systems Inc., visit the company's website at www.pason.com or contact: Jim Hill Chairman, President, and CEO 403-301-3401 [email protected]\n\n","length":2545,"tagName":"div"}]

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