HOUSTON--(BUSINESS WIRE)--Exterran Corporation (NYSE:EXTN) today announced the completion of its previously announced spin-off from Exterran Holdings, Inc. and emerged as an independent, publicly traded company. Exterran Corporation, which was formerly the international services and global fabrication businesses of Exterran Holdings, is a global market leader in compression, production and processing products and services. Exterran Corporation common stock will begin “regular way” trading on the New York Stock Exchange today under the ticker symbol “EXTN”.
After the market closed on November 3, 2015, each shareholder of Exterran Holdings received one share of Exterran Corporation common stock for every two shares of Exterran Holdings common stock held as of 5:00 pm, Eastern Time, on October 27, 2015, the record date for the spin-off. The spin-off was structured to qualify as a tax-free distribution to Exterran Holdings shareholders for U.S. federal tax purposes. In connection with the spin-off, Exterran Holdings was renamed Archrock, Inc. (NYSE:AROC).
Exterran Corporation is a market leader in compression, production and processing products and services, serving customers throughout the world engaged in all aspects of the oil and natural gas industry. Its global product lines include natural gas compression, processing and treating and production equipment and water treatment solutions. Exterran Corporation is a leading provider of full-service natural gas contract compression and a supplier of new, used, OEM and aftermarket parts and services outside the United States. Exterran Corporation is headquartered in Houston, Texas, and operates in approximately 30 countries with approximately 7,000 employees. For more information, visit www.exterran.com.