HOUSTON and MUMBAI, India, Sept. 22, 2010 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE:OIS) appear today that its subsidiary, Oil States Industries (OSI), has entered into a collective adventure acceding with G&T Oilfield and Adopted Casework Pvt. Ltd. (GTO), a privately-held Indian company. The new venture, G&T Oil States Industries Private Limited, will be headquartered in New Delhi, with operations including advanced accessories based in Navi Mumbai, to accommodate absolute design, manufacturing, sales and account for Nautilus Marine Adopted Pedestal Cranes and King Post Cranes (under a Licensing Acceding with Patriot Cranes LLC).
The new adventure will initially accomplish out of the accepted GTO accessories in Navi Mumbai until a anew advised 10,914 aboveboard beat circuitous can be completed in Navi Mumbai. The complex, accepted to be operational in mid 2011, will accommodate a three-story appointment architecture able with a 50-seat training amphitheater to facilitate training for Crane Operators and Crane Maintenance. A 75-tonne crane analysis angle will additionally be installed for action testing, and abounding amount testing accommodation on-site.
“This new adventure represents an befalling to amalgamate our talents and assets to auspiciously amuse the crane needs of the Indian marketplace,” declared Cindy B. Taylor, Oil States International’s President and CEO. “G&T Oil States Industries Private Limited will amalgamate GTO’s acquaintance in accouterment crane refurbishments and account forth with their ability of activity and assets in the breadth with Oil States’ designs, cast and common acceptability for quality.”
“We see continuing advance for our bazaar forth with a greater charge for chump admiration in the adopted architecture amphitheatre in abutment of the absolute adopted infrastructure. The Indian Waters accept one of the better installed bases of adopted platforms in the world” says Rajiv Savara, Managing Director of GTO. “This new collective adventure will accredit us to aftermath and bear complete crane solutions with beneath advance times, greater amount efficiency, college affection and assurance standards that our barter accept appear to expect.”
About Oil States International
Oil States International, Inc. is a adapted oilfield casework company. With locations about the world, Oil States is a arch supplier of a ample ambit of casework to the oil and gas industry, including alien armpit accommodations, production-related rental tools, oil country tubular appurtenances administration and acreage conduct casework as able-bodied as a arch architect of articles for deepwater assembly accessories and subsea pipelines. Oil States is about traded on the New York Stock Exchange beneath the attribute OIS. For added advice on the Company, amuse appointment Oil States International’s website at http://www.oilstatesintl.com.
The Oil States International, Inc. logo is accessible at http://www.globenewswire.com/newsroom/prs/?pkgid=6058
About Oil States Industries
Oil States Industries is a accessory of Oil States International. Oil States Industries is a assorted provider of articles and casework to the oil and gas, aegis and accepted industries. These markets are served by the company’s locations in Texas, Louisiana, Oklahoma, the United Kingdom, and Brazil, Singapore and Thailand and a attendance in France, Azerbaijan, Nigeria, Vietnam and UAE.
About G&T Oilfield and Adopted Services
G&T Oilfield and Adopted Casework Pvt. Ltd. is a a captivated aggregation in India and an accessory of G&T Total Energy Casework Pvt. Ltd. and G&T Assets (Europe) Ltd., accustomed distributors and in-country assembly of globally acclaimed manufacturers and suppliers of accessories and casework to the Oil & Natural Gas and the Marine Industries in India. G&T Oilfield and Adopted Casework and G&T Total Energy Casework are headquartered in New Delhi, with offices and branch accessories in Mumbai and Navi Mumbai, respectively.
The above contains advanced statements aural the acceptation of the Securities Act of 1933 and Area 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not accompaniment absolute facts and are, therefore, inherently accountable to risks and uncertainties. The advanced statements included therein will be based on again accepted expectations and entail assorted risks and uncertainties that could account absolute after-effects to alter materially from those advanced statements. Such risks and uncertainties include, amid added things, risks associated with the accepted attributes of the oilfield account industry and added factors discussed aural the “Business” and “Risk Factor” sections of the Form 10-K for the year concluded December 31, 2009 filed by Oil States with the SEC on February 22, 2010 and the “Risk Factor” area of the Form 10-Q for the three months concluded June 30, 2010 filed by Oil States with the SEC on August 5, 2010.
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