01.07.2011
HMS Group acquires SibneftemashMoscow, Russia – July 1, 2011 – HMS Group (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, today announced that it has completed the acquisition of 98.59% of the share capital of Sibneftemash, an oilfield equipment manufacturer, for a total cash consideration of RUB 1.29 billion. Deal is fully financed with available credit facility.
Sibneftemash, located in the Tyumen Region of the Russian Federation, designs, manufactures and supplies a diverse range of equipment and appliances used in the drilling, production of oil and gas and well servicing, including tank storage, cementing, well intervention and hydraulic fracturing equipment. The company benefits from a strong client base comprising of leading Russian and international oil producers and providers of oilfield services including Surgutneftegaz, Halliburton, Integra, Gazprom Neft, TNK-BP and Rosneft.
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The HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 7.1 billion, adjusted EBITDA of RUB 1.6 billion and profit for the period of RUB 1 billion for the three months ended March 31, 2011. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange. For further information, please contact:
DISCLAIMER
1 HMS Group owns 100% of OJSC HMS Neftemash – one of the leading manufacturers of modular oilfield equipment located in Tyumen. |
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