TPi January 2012

business & market news

NOV and Ameron in merger agreement National Oilwell Varco, Inc (NOV) and Ameron International Corporation have entered into an agreement under which NOV will acquire Ameron in an all cash transaction that values Ameron at approximately $772 million. share in cash in return for each of the approximately 9.1 million shares outstanding. The boards of directors of NOV and Ameron have unanimously approved the transaction, which is subject to customary closing conditions, including the approval of holders of at least a majority of Ameron’s outstanding shares. Under the agreement Ameron’s stockholders would receive $85 per

Ameron is a multinational manufacturer of highly engineered products and materials for the chemical, industrial, energy, transportation and infrastructure markets. The company produces fibreglass- composite pipe for transporting oil, chemicals and corrosive fluids, and specialised materials and products used in infrastructure projects, such as poles and construction materials. The company is also a provider of water transmission lines and fabricated steel products such as wind towers. NOV designs and manufactures equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry. James S Marlen, chairman, president and CEO of Ameron International Corporation, commented, “Ameron’s board of directors believes that the proposed transaction with NOV represents an outstanding value for Ameron’s stockholders. The Ameron businesses, while confronting a challenging business environment at this time, hold strong positions, and we have structured the businesses to capitalise on growth opportunities as markets recover. NOV has the resources to fully capitalise on the established business strategies and fully realise the potential of each of the Ameron businesses.” Pete Miller, chairman, president and CEO of NOV, remarked, “The acquisition of this leading fibreglass pipe provider will enhance the scale and scope of the solutions we offer to our oil and gas customers worldwide. Ameron’s marine and offshore products will expand NOV’s offering into seawater handling systems in new oil and gas drilling and FPSO vessels, and our combined oilfield composite pipe operations will benefit from purchasing efficiencies and scale.” National Oilwell Varco, Inc – USA www.nov.com Ameron International Corp – USA www.ameron.com

HIGH PRESSURE FITTINGS Forged-Carbon-Alloy-Stainless Steel, Threaded and Socket Weld PRODUCTS: 90°/45° elbow, tee, union, coupling, bushing, plug, cap, insert, pipe nipple & swage nipple . . .etc. MATERIALS: -Stainless Steel: ASTM A182, F304/304L, F316/316L, F304H/F316H, F317L -Carbon Steel: ASTM A105, SF440A & A181, A350 LF2 -Alloy Steel: ASTM A182 F11, F22 PRESSURE RATINGS: 2000, 3000, 6000 & 9000 lbs APPROVAL CERTIFICATES: ISO-9001 Quality Assurance, L/R, C/R, N/K & ABS register of shipping, PED (CE)

Manufacturer & Exporter BOTH-WELL STEEL FITTINGS CO., LTD. No. 303, JEN-HSIN ROAD JEN-WU DISTRICT KAOHSIUNG CITY, TAIWAN R.O.C. (81460) Tel: +886 7 3711536, 3710497, 3720260 Fax: +886 7 3713864, 3713882 E-mail: box@ bothwell.com.tw http://www.bothwell.com.tw

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Tube Products International January 2012

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