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Forum Energy Technologies Acquires Cooper Valves and Innovative Valve Components

HOUSTON--(BUSINESS WIRE)--Jan. 9, 2017-- Forum Energy Technologies, Inc. (NYSE: FET) announced today that it has acquired the assets of Cooper Valves and a 100% ownership interest in Innovate Valve Components. Based in Stafford, Texas, Cooper Valves manufactures Accuseal® metal seated ball valves engineered to meet Class VI shut off standards for use in severe service applications, as well as a full line of cast and forged gate, globe, and check valves. Innovative Valve Components, in partnership with Cooper Valves, commercialized critical service valves and components for the power generation industry.

Prady Iyyanki, Forum’s President and Chief Operating Officer, commented, “The Cooper Valves and Innovative Valve Components acquisitions fit with our strategy of increasing our product offering to midstream and downstream customers. Importantly, Cooper complements our product offering with high specification, engineered valves. The capabilities of Forum’s Valve Solutions product offering and Cooper Valves are expected to benefit each business as they are integrated. We welcome the Cooper employees to Forum.”

Forum Energy Technologies is a global oilfield products company, serving the drilling, subsea, completions, production and infrastructure sectors of the oil and natural gas industry. The Company’s products include highly engineered capital equipment as well as products that are consumed in the drilling, well construction, production and transportation of oil and natural gas. Forum is headquartered in Houston, TX with manufacturing and distribution facilities strategically located around the globe. For more information, please visit www.f-e-t.com.

Source: Forum Energy Technologies, Inc.

Forum Energy Technologies, Inc.
Investor Contact
Mark Traylor, 281.368.1108
Vice President, Investor Relations and Planning
mark.traylor@f-e-t.com
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Media Contact
Donna Smith, 281.949.2514
Director, Marketing & Communications
donna.smith@f-e-t.com