NOV to acquire Ameron

National Oilwell Varco Inc. will acquire Ameron International Corp. for $772 million in an agreement scheduled to close as early as 4Q 2011.

Offshore staff

HOUSTON – National Oilwell Varco Inc. will acquire Ameron International Corp. for $772 million in an agreement scheduled to close as early as 4Q 2011.

“Ameron’s marine and offshore products will expand NOV’s offering into seawater handling systems in new oil and gas drilling and FPSO vessels, and our combined oilfield composite pipe operations will benefit from purchasing efficiencies and scale,” said Pete Miller, president and CEO of NOV, in the announcement of the agreement.

NOV has the resources to fully capitalize on the established business strategies and fully realize the potential of each of the Ameron businesses,” said James S. Marlen, chairman, president, and CEO of Ameron.

07/06/2011

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