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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report(Date of earliest event reported) January 28, 1999
GRANT GEOPHYSICAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-18816 76-0548468
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
16850 Park Row, Houston, Texas 77085
(Address of principal executive offices) (Zip Code)
(281) 398-9503
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On January 28, 1999, Grant Geophysical, Inc. issued the press
release attached as exhibit 99.1 hereto and incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit No. Description
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99.1 Press Release dated January 28, 1999
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized on January 29, 1999.
GRANT GEOPHYSICAL, INC.
By:
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Don W. Wilson
Chairman of the Board
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FOR IMMEDIATE RELEASE
Contact: Ben L. Roberts
Chief Financial Officer
281-398-9503
NEWS RELEASE
GRANT GEOPHYSICAL, INC. ANNOUNCES
MANAGEMENT CHANGE
Houston, Texas - January 28, 1999 - Grant Geophysical, Inc. announced today
that Larry E. Lenig, Jr. has resigned as President, Chief Executive Officer and
a director of the Company. Don W. Wilson, the Company's Chairman of the Board,
will replace him on an interim basis as Chief Executive Officer.
Mr. Wilson said: "The Board of Directors is grateful for Larry's contribution
to the Company over the last two years. He has successfully lead the Company
through its bankruptcy reorganization. Now, we must focus on our core
operations and client base."
Mr. Wilson continued: "We have a sound management team that is very capable of
running the Company. I will serve as President and CEO on an interim basis,
and we have already commenced a search for a new President and CEO and expect
to announce our new CEO shortly."
Grant Geophysical, Inc. and its subsidiaries and affiliates provide land and
transition zone seismic services in the United States, Latin America, Central
America and the Far East. The Company employs approximately 2,500 people in
its worldwide operations.
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