Termination of Petro-Galaxy Acquisition


CAIRO, November 04 –Second Call/ - Termination of Petro-Galaxy Acquisition- BGS Energy Services (“BGSES or “the Company”) today announced the termination of the acquisition of Petro-Galaxy. By executing this termination, and other previously announced strategic objectives, BGS Energy Services remains well-positioned to drive significant accretion and value for stockholders. Mostafa Fouad, Global Director, commented, “Our core strategy of driving BGS Energy Services into higher growth industries remains unchanged. We will continue to focus on our strong momentum in these growth industries with dramatic projected revenues increase for fiscal year 2018 and 2019 going forward, up greater than 500 percent from fiscal year 2017. We believe our technology leadership and disciplined execution will drive significant value creation for our stockholders.” BGS Energy Services continues to achieve strong growth across MENA Region, accelerated by its expansion and momentum in the areas of Drilling Management , G& G and PPS.

 

Termination

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