Cooper Cameron Acquires NuFlo Technologies

Cooper Cameron has acquired NuFlo Technologies, Inc., a Houston-based supplier of metering and related flow measurement equipment, for approximately $120 million in cash.

NuFlo produces and distributes measurement and control instrumentation for the oil and gas industry, and has manufacturing facilities in the United States, Canada and the United Kingdom. Their 2005 full-year revenues are expected to be approximately $95 million, and their full-year earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be approximately $18 million.

Cooper Cameron Chairman, President and Chief Executive Officer Sheldon R. Erikson said NuFlo's operations will be combined with the Cooper Cameron Valves division. "Like Cooper Cameron, NuFlo's major product offerings are market leaders in their industry segments," Erikson said. "They have a collection of well-known brand names in the surface flow measurement business and a significant presence in oil and gas markets worldwide." He noted that NuFlo is expected to add approximately $0.05 per share to Cooper Cameron's earnings over the remainder of 2005, and $0.12 to $0.15 per share in 2006.