TGC Industries Announces Purchase of Additional GSR Wireless Recording Equipment
PLANO, Texas, Sept. 8 /PRNewswire/ -- TGC Industries, Inc. (Nasdaq: TGE) today announced that it has entered into a purchase agreement to acquire an additional 2,000 channels of GSR (Geospace Seismic Recorder) wireless recording system equipment.
Wayne Whitener, TGC Industries' President and Chief Executive Officer, said, "In light of continuing improvements in the marketplace and in response to customer demand, we are purchasing an additional 2,000 channels of GSR wireless recording equipment. In May of this year, we announced plans to purchase 3,000 channels of this equipment, and we are adding to that for a total of 5,000 channels of GSR wireless recording equipment to be delivered immediately. This GSR system can operate either independently or integrated with our ARAM equipment. The operational flexibility of this system will expand our capabilities since it can operate in many different types of environments, and its utilization should contribute to improved margins over time. With this additional equipment, our total channel capacity will be approximately 70,000."
TGC Industries, Inc., based in Plano, Texas, is a leading provider of seismic data acquisition services with operations throughout the continental United States and Canada. The Company has branch offices in Houston, Midland, Oklahoma City and Calgary.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on our current expectations and projections about future events. All statements other than statements of historical fact included in this press release regarding the Company are forward-looking statements. There can be no assurance that those expectations and projections will prove to be correct. We undertake no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACTS: |
Wayne Whitener |
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Chief Executive Officer |
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TGC Industries, Inc. |
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(972) 881-1099 |
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Jack Lascar / Karen Roan |
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DRG&L (713) 529-6600 |
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SOURCE TGC Industries, Inc.
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