CALGARY, Canada - On June 26, 2020, PCM Artificial Lift Solutions Inc. entered into an agreement for the purchase of Halliburton Energy Services, Inc. and its affiliates’ Canada Progressive Cavity Pump Business Line (known as “Europump” or the “Business”). The transaction envisions that all of the equipment, inventory, technology and the majority of the employees of Europump will be included in the sale to PCM. The Business will continue to provide the highest product and service quality to its customers.
The transaction is expected to close on August 1, 2020.
In the interim period until the effective date of the sale of Business, Haliburton will continue to run and operate the business in the usual course and will continue to provide excellent products and services. As part of the transaction, Halliburton and PCM will enter into a transition services agreement that will enable a smooth continuation of the ordinary course of business together through a brief transition period. Collectively, both PCM and Halliburton remain committed to a smooth transition and serving the customer with no interruption of Europump’s products and services.