HOUSTON, April 17, 2018 (GLOBE NEWSWIRE) -- Exterran Corporation (NYSE:EXTN)  announced the sale of its North American production equipment (PEQ) assets. An Asset Purchase Agreement (APA) was signed April 16, 2018 with Titan Production Equipment Acquisition, LLC, a newly-formed company backed by an affiliate of Castle Harlan, Inc., the New York private equity firm. The sale is expected to close in the summer of 2018 and will not have a material financial impact to Exterran.

The sale allows Exterran to accelerate its growth strategy by focusing as a systems and process Company for oil, gas, water and power. The Company will continue to manufacture production equipment outside of North America. In addition, Exterran will continue to offer its customers complete solutions in gas gathering, processing and compression, including offering production equipment in North America through Titan.

Included in the sale is Exterran’s 80-acre manufacturing facility in Columbus, Texas.

Exterran welcomes its partnership with Titan as the preferred supplier of production equipment to meet the Company’s needs in North America.

About Exterran Corporation

Exterran Corporation (NYSE:EXTN) is a global systems and process company offering solutions in the oil, gas, water and power markets. We are a market leader in natural gas processing and treatment and compression products and services, providing critical midstream infrastructure solutions to customers throughout the world. Exterran Corporation is headquartered in Houston, Texas and operates in approximately 30 countries.

For more information, visit www.exterran.com.