4D Seismic (FDSM) Announces Acquisition
4D Seismic, Inc. has approved the purchase of Environmental Construction Services for cash at its July board meeting.
Environmental Construction Services and 4D Seismic have been exploring a working relationship since April, with the two companies sharing personnel and equipment. The purchase had been rumored for some time as Environmental Construction Services, Inc., which is incorporated in Texas, had changed its name to 4D Seismic Inc. The Texas Corporation will be a wholly owned subsidiary of 4-D Seismic, Inc., the Nevada Corporation. The management team will remain the same without any departures or reassignments.
The Board also was presented and discussed the possibility of seeking a firm to form a strategic alliance for identifying technologies opportunities and acquisitions in the future. A subcommittee was impaneled to investigate and report back to the full board at the August meeting.
The work for the Clayton Ivy / Humble Oil tract is on schedule and budget; 4D Seismic will post periodic updates on this situation as development warrants.
The Board of Directors agreed with the recent pull back in the stocks price to begin the repurchase of the shares approved in the June meeting and not wait until the fourth quarter of 2006.