NewsAround Acadiana

Actions

SLEMCO enters agreement to purchase Knight Oil Tools facility

Posted at 9:53 AM, Apr 29, 2019
and last updated 2019-04-29 12:41:53-04

LAFAYETTE PARISH, La. – SLEMCO has entered into an agreement to purchase the Knight Oil Tool campus, near the Lafayette airport, and will relocate its headquarters once the purchase is complete, according to a SLEMCO press release.

SLEMCO has grown since moving into the Carencro headquarters facility in the 1970s. A ten-year master plan for expansion and growth was set to begin when the Knight Oil Tool Facility became available for a fraction of its value.

Phase I of a ten-year master plan for SLEMCO called for the construction of an additional building at the current headquarters location – which would have cost nearly the same amount of money as the entire Knight Oil Tool facility, stated in the release. The purchase will allow SLEMCO to accomplish its ten-year plan of growth and expansion to provide better service reliability – at a fraction of what it would have cost. The purchase also allows for future growth and expansion.

Options for the existing SLEMCO facility are currently being reviewed and studied. However, SLEMCO does plan to have a Service Center in the Carencro area to serve its members there.

The purchase is expected to be final in 60 days.