Press Release Source: TGC Industries, Inc.
TGC
Industries Announces Agreement to Acquire Seven New Vibration Vehicles
PLANO, Texas, Jan. 13 /PRNewswire-FirstCall/ -- TGC Industries, Inc. (AMEX:TGE) TGC
announced
today that the Company has entered into a Purchase Agreement with
Industrial Vehicles International, Inc. to purchase seven new vibration
vehicles. The Company plans to take delivery of these vehicles during
the third quarter of 2006. In addition, the Company plans to take
delivery of the nine new vibration vehicles ordered in the third
quarter of 2005 during the first quarter of 2006 as scheduled. After
receipt of these 16 new vibration vehicles in 2006 (nine in the
first quarter and seven in the third quarter), the Company will
own a total of 34 vibration vehicles.
Wayne Whitener, President and CEO of TGC Industries, Inc. commented,
"We are faced with increasing demand for land 3-D seismic surveys,
and with the recent announcement of the deployment of our sixth
seismic crew, the addition of these new vibration vehicles will
enable us to better respond to the needs of our customers."
TGC
Industries, Inc., based in Plano, Texas, with a branch office in
Houston, is one of the leading providers of seismic data acquisition
services throughout the continental United States.
This press release includes "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These forward looking statements are based on our current
expectations and projections about future events. All statements
other than statements of historical fact included in this press
release regarding the Company are forward looking statements. There
can be no assurance that those expectations and projections will
prove to be correct.
Source: TGC Industries, Inc.
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