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Exterran Delays Spin-Off of International Services Biz
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Exterran Holdings, Inc. announced that the previously announced private offering of senior notes by its subsidiaries has been withdrawn due to adverse market conditions. Consequently, the planned spin-off of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corporation will be delayed. Exterran Holdings intends to complete the spin-off when market conditions allow.
Brad Childers, Exterran Holdings’ President and Chief Executive Officer, said: "We remain committed to enhancing shareholder value through the creation of two separate entities. Our employees have done a tremendous job preparing for the separation of our businesses, and, as a result of that work, we are positioned to begin operating as two separate companies when the spin-off occurs. Until that time, we will continue to operate as one company, focused on delivering high-quality products and services to our customers."
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