DAYTON, Ohio and HOUSTON, Jan. 10,
2011 /PRNewswire/ -- Robbins & Myers, Inc. (NYSE:
RBN) and T-3 Energy Services, Inc. (Nasdaq: TTES) jointly
announced today that the merger of T-3 into a wholly-owned
subsidiary of Robbins & Myers is complete.
"We are pleased that the merger is complete and have been
working diligently toward the successful integration of T-3 within
our Fluid Management Group," said Peter C.
Wallace, President and Chief Executive Officer of Robbins
& Myers. "T-3 will significantly expand our energy business and
position our Fluid Management Group for future growth and global
expansion."
Under the merger agreement, for each share of T-3 common stock,
T-3 stockholders will receive 0.894 common shares of Robbins &
Myers plus $7.95 in cash.
About Robbins & Myers, Inc.
Robbins & Myers, Inc. is a leading supplier of engineered
equipment and systems for critical applications in global energy,
industrial, chemical and pharmaceutical markets.
About T-3 Energy Services, Inc.
T-3 Energy Services, Inc. provides a broad range of oilfield
products and services primarily to customers in the drilling and
completion of new oil and gas wells, the workover of existing wells
and the production and transportation of oil and gas.
Forward-Looking Statements
Statements set forth in this press release that are not
historical facts, including statements regarding the merger (its
benefits, results, and effects), the attributes of T-3 as a
subsidiary of Robbins & Myers, future competitive positioning
and business synergies, and future market demand, future benefits
to shareholders are forward-looking statements within the meaning
of the federal securities laws. These forward-looking
statements are subject to numerous risks and uncertainties, many of
which are beyond the control of Robbins & Myers and T-3, which
could cause actual benefits, results, effects and timing to differ
materially from the results predicted or implied by the statements.
These risks and uncertainties include, but are not limited
to: costs and difficulties relating to the merger; potential
uncertainties regarding market acceptance of the combined company;
competitive responses to the proposed merger; costs and
difficulties related to integration of T-3's businesses and
operations; the inability to or delay in obtaining cost savings and
synergies from the merger; inability to retain key personnel;
changes in the demand for or price of oil and/or natural gas, which
has been significantly impacted by the worldwide recession and the
worldwide financial and credit crisis; and other important risk
factors discussed more fully in Robbins & Myers' and T-3's
Annual Reports on Form 10-K for the year ended August 31, 2010 and December 31, 2009, respectively, their respective
recent Quarterly Reports on Form 10-Q and Current Reports on Form
8-K; and their joint proxy statement/prospectus filed with the
Securities and Exchange Commission ("SEC") on November 29, 2010. Neither Robbins &
Myers nor T-3 undertakes any obligation to revise or update
publicly any forward-looking statements for any reason.
SOURCE Robbins & Myers, Inc.