SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, DC  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 24, 2002

                           HANOVER COMPRESSOR COMPANY

               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)


         Delaware                     1-13071             76-0625124
(State or Other Jurisdiction      (Commission File       (IRS Employer
     of Incorporation)                Number)         Identification No.)


      12001 North Houston Rosslyn                             77086
        Houston, Texas  77086                               (Zip Code)
(Address of Principal Executive Offices)

      Registrant's telephone number, including area code:  (281) 447-8787


Item 5.  Other Events.

See the following press release:

      Hanover Compressor and GE Sign Joint Marketing and Sales Plan for
                             Oil and Gas Industry


ATLANTA & HOUSTON--(BUSINESS WIRE)--Jan. 24, 2002--GE Power Systems (GEPS) and
Hanover Compressor (NYSE: HC - news), the leading provider of outsourced natural
gas compression services, today announced a joint marketing and business
development plan designed to further expand the presence of both companies in
the global oil and gas industry.

The plan covers sales and service of certain classes of oil and gas and power
generation equipment:

    .  Hanover will work in cooperation with GEPS to market and service GE's
       expanding line of gas turbines under 20 megawatts, for selected
       independent oil and gas customers worldwide.

    .  Hanover also will become a preferred supplier of skids for certain GE
       aeroderivative gas turbine systems.

    .  Hanover will contract with various GE business units for the rebuilding
       and refurbishment of non GE-technology gas turbines.

    .  Hanover also will contract with the GE Oil & Gas business to purchase GE
       API 11P compression components to support Hanover's field compression
       units, and will work with GE Oil & Gas to bring GE API 618-type
       reciprocating compressor solutions to North American customers.

"This relationship combines Hanover's leadership position in packaged and
skidded, field-ready compression equipment with GE Power Systems' advanced and
wide-ranging power generation and oil and gas capabilities," said Michael J.
McGhan, president and chief executive officer of Hanover Compressor. "It
creates a powerful joint business thrust that benefits both companies. We are
gratified by GE Power Systems' decision to align itself with Hanover in serving
its global customer base."

Claudi Santiago, President and CEO of GEPS Oil and Gas, stated: "We are very
pleased to have such a complimentary relationship that we are convinced will add
real value to our customers as we continue to expand our Global reach." Rick
Stewart, President and CEO of GEPS' Aero Energy Products Division, added:
"Hanover should add a real punch to our independent oil and gas sales efforts
in the under-20 megawatts gas turbine product line. We are starting to see these
companies getting into bigger projects where turbine technology for power or
compression is needed, and Hanover has excellent service and coverage with those
customers."

Hanover engineers, designs and builds equipment that enables its customers to
increase the yield of natural gas from aging wells by using specially designed
compression units of gradually increasing size to capture product. "This
arrangement with GE Power Systems presents an exciting opportunity for our
Company," said McGhan. "Among other things, this relationship positions
Hanover Compressor as the preferred packager of independent expander-compressors
and expander-generators produced by GEPS' GE Oil & Gas division, which producers
the most recognized and respected products in the energy business: Rotoflow(R)
and Nuovo Pignone's API-618 reciprocating compressor units."

About GE Power Systems

GE Power Systems (www.gepower.com) is one of the world's leading suppliers of
power generation technology, energy services and management systems with
projected 2001 revenues exceeding $20 billion. The business has the largest
installed base of power generation equipment in the global energy industry. GE
Power Systems provides equipment, service and management solutions across the
power generation, oil and gas, distributed power and energy rental industries.


About Hanover Compressor

Hanover Compressor Company (www.hanover-co.com) is the global market leader in
full service natural gas compression and a leading provider of service,
financing, fabrication and equipment for contract natural gas handling
applications. Hanover provides this equipment on a rental, contract compression,
maintenance and acquisition leaseback basis to natural gas production,
processing and transportation companies that are increasingly seeking
outsourcing solutions. Founded in 1990 and a public company since 1997, its
customers include premier independent and major producers and distributors
throughout the Western Hemisphere.

Certain matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbors from liability established
by the Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because of the context of the
statement and will include words such as "believes," "anticipates,"
"expects," "estimates," or words of similar import. Similarly, statements
that describe Hanover's future plans, objectives or goals are also forward-
looking statements. Such forward-looking statements are subject to certain risks
and uncertainties, which could cause actual results to differ materially from
those anticipated as of the date of this press release. The risks and
uncertainties include: the loss of market share through competition, the
introduction of competing technologies by other companies; a prolonged,
substantial reduction in oil and gas prices which would cause a decline in the
demand for Hanover's compression and oil and gas production equipment; new
governmental safety, health and environmental regulations which could require
Hanover to make significant capital expenditures; inability to successfully
integrate acquired businesses; and changes in economic or political conditions
in the countries in which Hanover operates. The forward-looking statements
included in this press release are only made as of the date of this press
release, and Hanover undertakes no obligation to publicly update such forward-
looking statements to reflect subsequent events or circumstances. A discussion
of these factors is included in the Company's periodic reports filed with the
Securities and Exchange Commission.


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                 HANOVER COMPRESSOR COMPANY


Date:  January 25, 2002          By: /s/ Michael J. McGhan
                                     ---------------------------------------
                                     Michael J. McGhan
                                     President and Chief Executive Officer