Cooper Cameron Acquires Valve Manufacturing Businesses

Cooper Cameron has closed on the previously announced acquisition of certain businesses of the PCC Flow Technologies segment of Precision Castparts Corp., for approximately $80 million in cash.

The acquired operations serve customers in a variety of energy and process markets, and reported revenues of approximately $115 million for the fiscal year ended March 2004.

Cooper Cameron Chairman, President and Chief Executive Officer Sheldon R. Erikson said, "As previously noted, we expect this acquisition to be modestly additive to Cooper Cameron's earnings during 2005, and we anticipate further improvement in 2006 as we take advantage of certain cost synergies." Erikson said the transaction was financed with cash on hand.