Twin Disc Announces Multiple Orders for Oil and Gas Transmission Systems
Twin Disc expects to continue shipping transmission systems throughout 2017.
Twin Disc, Inc. recently announced it recently received multiple new orders from North American pressure pumping customers for the Company’s 8500 series transmission systems. Demand is being supported by a sustained recovery in oil and gas aftermarket activity.
Twin Disc received multiple orders for its 8500 series transmission systems including a 100-unit order from ProFrac Services. This order represents one of the largest single transmission system orders the company has received. Additional orders experienced were from existing customers producing new pressure pumping capacity. Twin Disc expects to continue shipping transmission systems associated with these oil and gas orders throughout the remainder of fiscal 2017.
In addition to new unit orders, Twin Disc has experienced an increase in demand for oil and gas aftermarket components.
“We are extremely pleased to announce significant new oil and gas transmission system orders,” stated John H. Batten, president and chief executive officer. “These orders demonstrate Twin Disc’s leadership position in providing high horsepower, high quality transmission systems to the pressure pumping industry, and we are proud to be a part of ProFrac’s initial build. The difficult oil and gas cycle over the past 18 months has caused a significant underinvestment in fracturing equipment. Increasing new product and aftermarket demand trends are encouraging and we are cautiously optimistic we are in the early stages of an improving oil and gas equipment cycle.”