Cooper Cameron buys Sterom Campina

American company Cooper Cameron, one of the world’s top producers of gas pressure control equipment, announced it would take over Sterom Campina, a producer of oil equipment. The transaction will include other activities of PCC Flow Technologies, a division of another US company, Precision Castparts Corp.(PCC) and will have a value of almost 80 million dollars in cash. According to the Americans, the transaction will be finalised in the fourth quarter of this year. Besides Sterom Campina, the assets acquired by Cooper Cameron will also include the US companies General Valve, TVB, AOP Industries, as well as the Italian company PCC Ball Valves. During the fiscal year that ended in March 2004, total revenues generated by these companies amounted to about 122 million dollars. Last year, PCC Sterom created a turnover of 1,111 billion ROL (over 33.6 million dollars calculated at the NBR average exchange rate), against losses of 237 billion ROL (over 7 million dollars). PCC had bought Sterom Campina from the former State Ownership Fund (SOF) back in 1999. ZF