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Article: Cooper Cameron Corporation Acquires Petreco International.
- Article from:
- PR Newswire
- Article date:
- March 1, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cooper Cameron Corporation has closed on the previously announced acquisition of Petreco International, a Houston-based supplier of oil and gas separation products, for approximately $90 million, net of cash acquired and debt assumed.
Petreco provides highly engineered, custom processing products to the oil and gas industry worldwide. Petreco's 2003 revenues were approximately $117 million and they generated approximately $12.0 million of income before taxes.
Cooper Cameron Chairman, President and Chief Executive Officer Sheldon R. Erikson said, "Petreco's product offerings and services complement our existing businesses, and we expect them to be ...