- 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.
Forward-Looking Statements
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
(262) 638-4242
