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Integra brochure
(pdf - 1.6 mb)


April 06, 2011

Integra closes the sale of cementing fleet manufacturing business in Kostroma

Moscow, April 6, 2011

Integra Group (LSE:INTE), a leading independent provider of diversified oilfield services, announces the sale to Trudinvest Limited of its cementing and road construction equipment manufacturing business in Kostroma for a total value of US$24.1 million.

The proceeds from the sale of the 100% stake in OOO Stromneftemash (SNM) include cash consideration of US$17.3 million (including repayment of SNM’s intra-group borrowings) and certain non cash financial consideration. The sale proceeds will be used for general corporate purposes of Integra and certain debt repayments.
Antonio Campo, Chief Executive Officer of Integra said:
“Further to the sale of the heavy rig manufacturing business in August 2010 this transaction represents the completion of Integra's exit from heavy equipment manufacturing, in line with our strategy to refocus the business on higher margin oilfield services. The deal should increase the clarity of the value created by our core oilfield services as well as improve our financial flexibility.”


About Integra Group:

Integra Group is a leading FSU-based independent diversified oilfield services provider and is also a manufacturer of specialized equipment used in the exploration, development and production of oil and gas. Integra operates in all major oil and gas producing regions in Russia and in many other CIS countries, where its customer base includes major domestic and international oil and gas companies.

Established in March 2004, Integra Group has, through 17 strategic acquisitions, become one of the leading companies in the oilfield services and equipment manufacturing sectors of the Russian market and employs more than 15,000 people.

Since February 27, 2007 Integra Group has been traded on the London Stock Exchange (symbol: INTE).
For additional information please contact:

Integra Group  

Andrei Machanskis
Head of Investor Relations 
Tel. +7 495 933 0621
amachanskis@integra.ru


Sergey Beldinsky
 Head of Public Relations
 Tel. +7 495 933 0621
sbeldinsky@integra.ru