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Integra brochure
(pdf - 1.6 mb)


August 31, 2011

Integra Group announces acquisition of SIAM Company

Integra Group announces that it has executed a purchase and sale agreement to acquire SIAM Company (SIAM), a leading Russian oilfield services company specializing in wireline and slickline services, production logging and testing. The transaction amount is RR2.2 bln (US$76 mln). Integra Group anticipates that closing of the transaction will occur within the next two months. The transaction will be financed by a combination of internal cash resources and external borrowings.

“Acquisition of SIAM provides new opportunities for further expansion of our portfolio of technology services in line with the strategy to enhance Integra’s high-margin product offering. Increasing our footprint in the oil and gas production market, SIAM reinforces Integra’s position as the leading Russian provider of complex OFS solutions at all stages of oilfield development. SIAM’s success is built on innovation by an outstanding team of people, world-class products and a great relationship with its customers, which is reflected in their solid financial results. The SIAM brand is recognized across Russia and increasingly beyond, based on extensive operational experience and international partnerships,” said Integra Group CEO, Antonio Campo.

Integra Group will retain the SIAM brand for its commercial purposes.

Reference

SIAM is a Russian oilfield services company, a leader in equipment and services for wireline and slickline services, well flow and production logging and testing. Its key business lines are: equipment manufacturing for wells testing, oil and gas producing well testing services and test results interpretation, chemicals application in oil production and in oil transportation, engineering services on fields analysis, optimization and field development planning. 
Established in 1990, the holding includes 22 subdivisions located in the majority of oil and gas producing regions of Russia. Headquartered in Tomsk, SIAM is also represented in the following cities: Krasnoyarsk, Nizhnevartovsk, Nyagan, Tyumen, Usinsk, Orenburg, Samara, Stavropol, Krasnodar and others. Its headcount is over 1700 employees.
Integra Group is a 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 and CIS market. Integra Group employs over 14 000 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


Konstantin Schwarzkopf
Vice-President for Public Relations
Tel. +7 495 933 0621
kschwarzkopf@integra.ru


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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Integra Group. You can identify forward-looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might,” or the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. Integra Group does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in Integra Group’s projections or forward-looking statements, including, among others, general economic and market conditions, Integra Group’s competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to Integra Group and its operations.
 
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Integra Group, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of Integra Group.