Sells Alberta Oil and Gas Limited Partnership VANCOUVER, British Columbia, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Hanwei Energy Services Corp. (TSX: HE) (“Hanwei” or the “Company”), today announced that it has completed the sale of its wholly-owned Alberta limited partnership, HESC Energy Limited Partnership, and its general partner, HESC Energy Corporation (collectively, “HESC”), including all of their corporate assets in Alberta, to BOCO Energy Inc. (the “Purchaser”) for an undisclosed price, inclusive of the assumption of all liabilities, accruing liabilities and obligations of HESC. As part of the transaction, the Company obtained a full release and indemnity from the Purchaser and HESC for all liabilities, including any abandonment and reclamation liabilities, or other environmental liabilities.
About Hanwei Energy Services Corp.
Hanwei’s principal business operations will now be in just one segment of the oil and gas industry as an equipment supplier to the industry (as a manufacturer of high pressure, fiberglass reinforced plastic (FRP) pipe products serving energy customers in the global energy market).