HUNTSVILLE, Texas, Dec. 11, 2017 /PRNewswire/ -- Mitcham
Industries, Inc. (NASDAQ: MIND) and Langfang Dynamic Technologies
Co. Limited ("DTCC") today announced an Equipment Lease Agreement
whereby Mitcham will offer DTCC's SmartSolo land seismic recording
system for rental to customers worldwide. Financial terms of
the arrangement were not disclosed.
Rob Capps's, Mitcham's Co-Chief
Executive Officer, stated, "We are pleased to partner with DTCC and
be able to offer SmartSolo as a solution to our customers. In
light of the challenging land seismic business and the growing
demand for customized solutions, we continue to explore innovative
ways to partner with others in order to meet the needs of our
customers. DTCC has long history and reputation for reliability and
we believe will continue to be an important supplier to the
industry."
Gary Wu, managing director of
DTCC, commented, "It is DTCC's great honor to partner with Mitcham,
the industry leader in the seismic rental market. Mitcham has
world-wide operational coverage and a full range of equipment for
seismic operations. We believe that with high-density, large-scale
seismic projects becoming ever more common, clients will need the
flexibility to scale the channel-count by combining purchased and
rental equipment. The Mitcham-DTCC partnership is the perfect
solution."
About Mitcham Industries
Mitcham Industries, Inc. provides equipment to the geophysical,
oceanographic and hydrographic industries.
Headquartered in Huntsville,
Texas, Mitcham has a global presence with operating
locations in the United States,
Canada, Australia, Singapore, Russia, Hungary, Colombia and the United Kingdom. Mitcham's worldwide Equipment
Manufacturing and Sales Segment, which includes its Seamap and
Klein Marine Systems units, designs, manufactures and sells
specialized, high performance, marine sonar and seismic equipment.
Through its Leasing Segment, Mitcham believes it is the largest
independent provider of exploration equipment to the seismic
industry.
Contacts:
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Rob Capps,
Co-CEO
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Mitcham Industries,
Inc.
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936-291-2277
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Jack Lascar / Mark
Roberson
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Dennard Lascar
Investor Relations
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713-529-6600
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SOURCE Mitcham Industries, Inc.