Transaction overview Definitive merger agreement to acquire Maverick Tubes - all cash Total purchase price: US3,185 million, including net debt Value per share: US65 per share Premium to average share price over past 90 days -…
Maverick Tube A leading North American producer of welded OCTG and line pipe for use in oil and gas wells Producer of coiled tubing and umbilicals Producer of welded pipes for electrical conduits Operations in United States,…
MVK: operating results 2003 2004 2005 1Q 2006 Millions of US Net Sales 806 1,287 1,785 543 Energy 622 954 1,462 434 Electrical Products 184 333 323 109 Operating income 52 289 257 113 EBITDA 74 315 288 121 EBITDA margin 9% 24% 16%…
MVK: selected financial statistics 2003 2004 2005 1Q 2006 Millions of US Cash & Equivalents 29 35 23 81 Net Debt 149 146 442 408 Net Debt/Total Capitalization 28% 20% 44% 39% ROE (annual) 6% 40% 30% 33% Investor presentation…
Factors driving demand growth for OCTG products Sustained growth in global demand for oil and gas Supply constraints led by accelerating depletion of mature fields, lack of discoveries of substantial new reserves and increasingly…
Reflected in North American drilling activity Rig count 2,000 1,750 455 1,500 365 341 1,250 372 1,000 263 750 1,383 1,156 1,190 500 1,030 830 250 0 2001 2002 2003 2004 2005 USA Canada Source: Spears &…
OCTG market in USA & Canada 6 5 4 2.6 2.3 3 1.8 2.1 2 1.3 2.5 1 2 1.6 1.5 1.1 0 2001 2002 2003 2004 2005 Seamless Welded Source: Preston Pipe, Statistics Canada and Company estimates Investor…
Strategic rationale Complementary market position Gain substantial access to United States and leading position in North American market commensurate with our global position Product offering in North America will cover a wide…
Enhanced company profile Following acquisition of Maverick Net sales of approx. US9 billion and 22,500 employees 20% market share in North American (USA and Canada) OCTG market (5 million tons in 2005) 30% of net sales in North…
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