Finanzen, Schoeller-Bleckmann Oilfield Equipment AG

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution.

31.08.2017 - 18:41:58

Schoeller-Bleckmann Oilfield Equipment AG / Hurricane Harvey has little impact on the company?s own business operations in Houston, Texas, emergency aid for employees. The issuer is responsible for the content of this announcement. No Keyword Ternitz - Ternitz/Vienna, August 31, 2017.

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

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Ternitz - Ternitz/Vienna, August 31, 2017. The Schoeller-Bleckmann Oilfield Equipment AG (SBO) facilities in Houston, Texas have not been seriously affected by Hurricane Harvey. In spite of the dramatic devastation caused by Hurricane Harvey in the region, work carried out at the SBO sites only suffered from brief interruptions. Precautionary measures were immediately initiated at the beginning of the hurricane. Work was stopped and employees were instructed to stay at home. SBO kept the facilities closed until the middle of the week in order to ensure the safety of its employees. At this time operations have been resumed with about 30% of the staff. It is planned to reach normal production levels again in the middle of next week when all access roads are useable once again.

"We immediately took steps to ensure the safety of our employees. Affected employees who have suffered damage will be helped within the context of our emergency aid measures. This is standard practice for us", states SBO CEO Gerald Grohmann. "Our production operations have not been impacted very much by the hurricane."

SBO employs about 500 employees at five sites operated by its subsidiaries in Houston.

SBO is the global market leader in high-precision components made of high-alloy steel and a leading supplier of key components for the oilfield service industry. The business focus is on non-magnetic drillstring components and high- tech downhole tools for drilling and completing directional and horizontal wells. As of 30 June 2017, SBO employed a workforce of 1,295 worldwide (31 December 2016: 1,200), thereof 310 in Ternitz, Austria and 633 in North America (including Mexico).

Further inquiry note: Ildiko Füredi-Kolarik Metrum Communications GmbH Phone: +43 1 504 69 87 Ext. 351 E-mail: i.fueredi@metrum.at

Stefan Trittner Metrum Communications GmbH Phone: +43 1 504 69 87 DW 341 E-mail: s.trittner@metrum.at

end of announcement euro adhoc

issuer: Schoeller-Bleckmann Oilfield Equipment AG Hauptstrasse 2 A-2630 Ternitz phone: 02630/315110 FAX: 02630/315101 mail: sboe@sbo.co.at WWW: http://www.sbo.at ISIN: AT0000946652 indexes: ATX, WBI stockmarkets: Wien language: English

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