THE WOODLANDS, Texas, April 30, 2018 /PRNewswire/ -- (NYSE:APY.WI) --Apergy Corporation, a leading provider of highly engineered technologies that help companies drill for and produce oil and gas efficiently and safely around the world, will make its first appearance as a newly formed company at the Offshore Technology Conference (OTC) in Houston April 30 - May 3, 2018. Effective upon its spin-off from Dover Corporation on May 9, 2018, Apergy will become an independent, public company trading on the New York Stock Exchange under the symbol "APY". Apergy common stock is currently traded on the New York Stock Exchange on a "when-issued" basis under the symbol "APY.WI".
Apergy provides a full range of equipment essential to efficient functioning throughout the lifecycle of the well. Apergy will be a combination of its 18 leading brands, forming a comprehensive portfolio offering artificial lift equipment, drilling technologies, production equipment and automation products. This combination of technology enables Apergy to differentiate itself by being present across the entire wellsite. From before the well is drilled until it is at optimal output, Apergy offers solutions to operators that maximize production efficiency and minimize downtime.
At OTC, Apergy will be present at three of its brand booths: US Synthetic and Quartzdyne, Artificial Lift and Automation Technologies, as well as Digital Solutions. In these booths, OTC's thousands of attendees will learn about the power of this end-to-end suite of products and services—including how Apergy provides advanced automation technology solutions for the oilfield. Apergy intends to lead this sector of the oil and gas industry by delivering exemplary customer service and committing to constant innovation.
"The spin-off of Apergy, with its industry-leading technologies and brands, as a separately listed company enables us to accelerate value creation for both our customers and shareholders. We will continue to deliver products, technologies and outstanding service with a strong focus on improving our customers' productivity. We are excited about our future," said Sivasankaran "Soma" Somasundaram, President and Chief Executive Officer of Apergy. "We could think of no better place to make our first appearance than at OTC, which is the pinnacle event for leaders in the oil and gas industry."
Apergy's tagline, "Unlocking Energy", highlights its position as a leading wellsite equipment and digital technology provider to the drilling and completions sector. The company drives value for its customers, employees and shareholders through its extensive product offerings coupled with engineering excellence.
To learn more about Apergy, its vision and its plans for growth, visit booths #1239, #4533 and #2315 at OTC next week. Somasundaram and other executives will be onsite.
Apergy is a leading provider of highly engineered technologies that help companies drill for and produce oil and gas efficiently and safely around the world. Apergy's products provide efficient functioning throughout the lifecycle of a well - from drilling to completion to production. The company's main offerings consist of artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps and drive systems and plunger lifts, as well as polycrystalline diamond cutters for drilling. Apergy also provides a full automation offering consisting of equipment, software and IIoT solutions for downhole monitoring, wellsite productivity enhancement and asset integrity management.
Forward Looking Statements:
This press release contains statements relating to future actions and results, which are "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, the planned separation of Apergy, the expected distribution date, the anticipated date for Apergy's common stock to begin trading on a "regular-way" basis, Apergy's market position and Apergy's growth opportunities. Forward-looking statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, the fact that the spin-off distribution may not be completed as anticipated or at all and that delays or difficulties in completing the distribution may be experienced; market conditions in general and those applicable to the distribution; factors affecting the expected timeline for completing the separation into two public companies; the risk that the anticipated benefits from the distribution may not be fully realized or may take longer to realize than expected; tax and regulatory matters; and changes in economic, competitive, strategic, technological, regulatory or other factors that affect the operation of Apergy's businesses. You are encouraged to refer to the documents that Apergy files from time to time with the Securities and Exchange Commission, including the "Risk Factors" section of Apergy's information statement included in its Form 10 registration statement, for a discussion of these and other risks and uncertainties. Apergy undertakes no obligation to update any forward-looking statement, except as required by applicable law.
This press release does not constitute an offer to sell any of the securities discussed herein.