TGC Industries, Inc. (TGE) Enters Agreement to Acquire Additional GSR Wireless Channels
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TGC Industries, Inc. (NASDAQ: TGE) today announced that the Company has entered into a purchase agreement to acquire 14,200 OYO Geospace single-channel GSR wireless channels and related equipment, to be financed with a combination of cash and debt, for delivery by the end of January 2012. Upon delivery of this equipment, TGC Industries will own more than 32,000 single-channel GSR wireless units.
Wayne Whitener, TGC Industries' President and Chief Executive Officer, stated, "Due to customer demand, we are adding additional wireless channels to our GSR recording crews. The operational flexibility of the GSR system allows it to be utilized in many different types of surroundings, and these new channels will further enhance our capabilities and enable us to continue to respond promptly to customer requests. With the delivery of these new GSR channels, our total channel count will be approximately 99,000, comprised of ARAM and GSR channels."
Wayne Whitener, TGC Industries' President and Chief Executive Officer, stated, "Due to customer demand, we are adding additional wireless channels to our GSR recording crews. The operational flexibility of the GSR system allows it to be utilized in many different types of surroundings, and these new channels will further enhance our capabilities and enable us to continue to respond promptly to customer requests. With the delivery of these new GSR channels, our total channel count will be approximately 99,000, comprised of ARAM and GSR channels."
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