CALGARY, Sept. 13 /CNW/ - Precision Drilling Corporation ("Precision") is
pleased to announce the closing of its previously announced sale of CEDA
International Corporation ("CEDA") for a price of approximately
Cdn $274 million. The purchase is being made through Borealis Investments
Inc., an investment entity of the Ontario Municipal Employees Retirement
System.
CEDA and its subsidiaries carried on the Industrial Services Business of
Precision through four operating units: industrial, mechanical, catalyst and
electrical.
Precision Drilling Corporation is listed on the Toronto Stock Exchange
under the trading symbols "PD and PD.U" and on the New York Stock Exchange
under the trading symbol "PDS".
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