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News article about the Romanian oil equipment industry – Feb 05

Cooper Cameron takes over leading Romanian oil equipment manufacturer Sterom Campina
Sheldon Erikson

Press Review – February 16, 2005

The world’s leading manufacturer of equipment for the oil & gas industries, Houston, Texas-based Cooper Cameron Corporation (www.coopercameron.com) has late last year acquired top Romanian oil equipment manufacturer Sterom Campina from another US firm, Precision Castparts Corp (PCC).

The transaction included several other companies previously owned by PCC, and was overall worth $80 million.

Over the past two years PCC had already transferred to Campina several valve production lines from its plants in Western Europe and North America, turning Sterom into one of the largest production centers in the region.

Cooper Cameron intends to capitalize on these past investments and further fuel the growth of Sterom Campina into its development platform in this part of the world through massive investments in state-of-the-art technology, Cooper Cameron’s Chairman and CEO Sheldon Erikson told the Romanian Television.

A company with $1.6 billion in 2003 revenues, Cooper Cameron focuses on supplying a wide range of equipments and services to the oil & gas and associated industries, ranging from pressure control devices, processing, flow control and compression systems, to project management and aftermarket services.

The company has unparalleled reputation and enjoys strong global leadership in many of its product lines; the brand is extremely familiar to oilmen throughout the world as it maintains an active presence in over 150 countries on all continents.

The legacy of many decades of offering exquisite quality, reliability and high value made Cooper Cameron the dominant equipment and services provider to the global oil & gas industry.