 |
 |
|
Cooper Cameron announces acquisition of Petreco
New York - January 28, 2004 - Standard & Poor's Ratings Services said today that Cooper
Cameron Corp.'s (NYSE:CAM - News) announcement that it is acquiring Petreco
International, a supplier of oil and gas separation products for about $90
million, net of assumed debt and cash, will not affect the ratings or outlook
on Cooper.
This transaction is consistent with Cooper's growth strategy to
complement existing business lines while maintaining its low debt leverage,
which stood at 29% at year-end 2003. Cooper should be able to fund this
transaction from its cash balances (which totaled about $314 million as of Dec.
31, 2003) while maintaining ample liquidity and appropriate financial metrics
for the rating category.
Relevant Web Site:
Petreco
|
|
|
 |
|
|
