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Integra brochure
(pdf - 1.6 mb)


October 03, 2011

Integra Group closes acquisition of SIAM Company

Integra Group (LSE: INTE) announces that it has closed the deal on acquisition of SIAM Company (SIAM), a leading Russian oilfield services company specializing in wireline and slickline services, production logging and testing. Integra paid RR2.2 bln (US$71 mln) which was financed by a combination of internal cash resources and use of existing debt facilities. The Company has been acquired on a cash free and debt free basis. Acquisition of SIAM provides new opportunities for further expansion of Integra’s portfolio of technology services and reinforces the Company’s position as the leading Russian provider of complex OFS solutions at all stages of oilfield development. SIAM’s results of operations will be consolidated into the Group’s financial statements starting from 4Q 2011.


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. Following the SIAM integration Integra Group employs about 16,000 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.