Cameron Completes NATCO Acquisition
November 18 2009 - 5:54PM
PR Newswire (US)
HOUSTON, Nov. 18 /PRNewswire-FirstCall/ -- Cameron (NYSE:CAM) has
closed on its acquisition of NATCO Group Inc., following the
approval of the previously announced merger agreement by NATCO's
shareholders at a special meeting held earlier today. NATCO
shareholders received 1.185 shares of Cameron common stock in
return for each share of NATCO common stock held, and will receive
cash reflecting the value of any fractional shares. Cameron has
issued approximately 23.7 million shares related to this
transaction. Cameron President and Chief Executive Officer Jack B.
Moore said, "We are pleased to add NATCO's talented people and
complementary businesses to the Cameron organization, and we look
forward to moving ahead with the integration process. As previously
noted, we expect the acquisition to favorably impact our
profitability in 2010, after adjusting for any integration costs."
Simmons & Company International served as financial advisor to
Cameron on this transaction. Cameron (NYSE:CAM) is a leading
provider of flow equipment products, systems and services to
worldwide oil, gas and process industries. Website:
http://www.c-a-m.com/ In addition to the historical data contained
herein, this document includes a forward-looking statement
regarding the impact of the acquisition on the future profitability
of the Company, made in reliance upon the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. The Company's
actual results may differ materially from those described in a
forward-looking statement. Such statement is based on current
expectations of the Company's performance and the performance of
the acquired operations, and is subject to a variety of factors,
some of which are not under the control of the Company, which can
affect the Company's results of operations, liquidity or financial
condition of the businesses acquired. Such factors may include
overall demand for, and pricing of, the businesses' products and
the size and timing of orders of such products. Because the
information herein is based solely on data currently available, it
is subject to change as a result of changes in conditions over
which the Company has no control or influence, and should not
therefore be viewed as assurance regarding the Company's future
performance. Additionally, the Company is not obligated to make
public indication of such changes unless required under applicable
disclosure rules and regulations. DATASOURCE: Cameron CONTACT: R.
Scott Amann, Vice President, Investor Relations of Cameron,
+1-713-513-3344 Web Site: http://www.c-a-m.com/
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