- Multiple Orders Across the Range of Pressure Pumping Transmission Systems and Includes 200 Unit Follow-On Order from ProFrac Services
- Orders Received in the Second Quarter Represent a Total Value Over $40 Million
RACINE, Wis., Dec. 20, 2017 (GLOBE NEWSWIRE) -- Twin Disc, Inc.(NASDAQ:TWIN), today announced it recently received multiple new orders from North American pressure pumping customers for the Company’s pressure pumping transmission systems. Orders received in the second quarter represent over $40 million of new pressure pumping transmission systems. Market activity for new pressure pumping transmission systems and aftermarket products and services remains high.
During the second fiscal quarter, Twin Disc received multiple orders across the range of its pressure pumping transmission systems, including a follow-on order for 200 units of its 8500 series transmission system from ProFrac Services, a rapidly growing pressure pumping company. This order represents the largest single pressure pumping transmission system order Twin Disc has ever received. Over the past four quarters, ProFrac has now ordered a total of 350 units of Twin Disc’s 8500 series transmission system that combined with their existing fleets will create over 1,000,000 HHP of fracking capacity by the end of calendar 2018. ProFrac also has a plan to invest in an additional 200 units beyond 2018. Twin Disc expects to ship transmission systems ordered in the fiscal 2018 second quarter throughout the remainder of fiscal 2018 and into fiscal 2019.
“Improving demand for capital equipment from the oil and gas market has started to accelerate, as fracking companies are investing significantly to rebuild and expand their fleets,” stated John H. Batten, President and Chief Executive Officer. “Twin Disc is enhancing its leadership position in this market, as a result of our highly engineered, high-quality, and high-horsepower transmission systems, dedicated technical service and superior customer support. Increasing new product and aftermarket demand trends, as well as follow-up orders are encouraging, and we expect favorable trends will continue throughout the remainder of our fiscal year.”
About Twin Disc, Inc.
Twin Disc, Inc. designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Products offered include: marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company’s worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network.
This press release may contain statements that are forward looking as defined by the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors including those identified in the Company’s most recent periodic report and other filings with the Securities and Exchange Commission. Accordingly, actual results may differ materially from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that the results expressed therein will be achieved.
Contact: Jeffrey S. Knutson
Source: Twin Disc, Incorporated