CALGARY, Sept. 13 /PRNewswire-FirstCall/ -- Precision Drilling Corporation ("Precision") is pleased to announce the closing of its previously announced sale of CEDA International Corporation ("CEDA") for a price of approximately Cdn $274 million. The purchase is being made through Borealis Investments Inc., an investment entity of the Ontario Municipal Employees Retirement System. CEDA and its subsidiaries carried on the Industrial Services Business of Precision through four operating units: industrial, mechanical, catalyst and electrical. Precision Drilling Corporation is listed on the Toronto Stock Exchange under the trading symbols "PD and PD.U" and on the New York Stock Exchange under the trading symbol "PDS". DATASOURCE: Precision Drilling Corporation CONTACT: Hank B. Swartout, Chairman, President and Chief Executive Officer, 4200, 150 - 6th Avenue S.W., Calgary, Alberta T2P 3Y7, Telephone (403) 716-4500, Fax (403) 264-0251; website: http://www.precisiondrilling.com/; Archived images on this organization are searchable through CNW Photo Archive website at http://photos.newswire.ca/. Images are free to accredited members of the media. To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

Copyright