business & market news
12
Tube Products International January 2012
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.
Under the agreement Ameron’s
stockholders would receive $85 per
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.
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
Ameron International Corp
– USA
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
