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Thu, 5 Oct 2006 6:07:00 PDT
HOUSTON, TX (MARKET WIRE) Flotek Industries, Inc. (AMEX: FTK) announced it has entered into a definitive agreement to purchase a 50% interest in Cavo Drilling Motors ("CAVO") for approximately $6 million, subject to normal closing conditions. The transaction will be funded with cash, common stock and a seller note, and is anticipated to close later this month.
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