Pending approval of its application, Allis-Chalmers anticipates that its shares of common stock will begin trading on the NYSE on March 22, 2007, under its current symbol "ALY." Until that time, Allis-Chalmers' shares will continue to trade on the American Stock Exchange.
Micki Hidayatallah, Allis-Chalmers' Chairman and Chief Executive Officer stated, "We are excited about our new association with the NYSE. We view this step as a significant event for our company and we believe the NYSE will increase our visibility with the financial community. The American Stock Exchange gave us the first opportunity to access the U.S. capital markets in a very efficient manner. We appreciate our time with the American Stock Exchange and their contribution to the growth of our company."
"Allis-Chalmers Energy is an outstanding addition to the New York Stock Exchange family of listed energy companies," said NYSE Group, Inc. President & co-COO Catherine R. Kinney. "We look forward to a long-term partnership with the company and to providing it with the superior market quality, services and brand visibility that issuers have come to expect from listing on the NYSE."
Allis-Chalmers Energy, Inc., is a Houston based multi-faceted oilfield services company that provides services and equipment to oil and natural gas exploration and production companies, throughout the United States, including Texas, Louisiana, New Mexico, Colorado, Oklahoma, Mississippi, Utah, Wyoming, the Gulf of Mexico, and internationally primarily in Argentina and Mexico.
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