Oil States Int'l To Acquire Piper Valve Systems

Oil States International (OIS) Is Surging On JANA Partners Stake

Oil States Int'l Q1 Profit Down - Quick Facts

Trade OIS now with

7/2/2012 4:35 PM ET

Oil States International Inc. (OIS: Quote) Monday said its subsidiary, Oil States Industries Inc., has agreed to acquire Piper Valve Systems Ltd., for $48 million.

"Piper's valve technology will be very complementary to our Offshore Products segment, allowing us to integrate their valve products and services in various sub-sea applications," said Cindy Taylor, Oil States' president and CEO.

For the fiscal year 2012, Piper is expected to generate revenues of about $34 million.

Click here to receive FREE breaking news email alerts for OIL STATES INTERNATIONAL and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

43 Articles Next>>

Editors Pick

Stocks Showing A Lack Of Direction Following Recent Strength - U.S. Commentary

Stocks are turning in a lackluster performance in early trading on Monday after showing a strong move to the upside last week. The major averages are showing only modest moves, lingering near the unchanged line. The major averages are currently turning in a mixed performance, with the Nasdaq just above the unchanged line.

Thailand Cuts 2013 GDP Outlook As Q1 Growth Slows More Than Expected

Thailand lowered its full-year growth outlook after weaker domestic demand and exports weighed on economic activity in the first three months of the year. Gross domestic product expanded 5.3 percent year-on-year in the first quarter of 2013 compared to an upwardly revised 19.1 percent growth in the fourth quarter of 2012, the National Economic and Social Development Board (NESDB) said Monday.

U.K. House Prices Hit Record High: Rightmove

The fifth consecutive monthly increase in the U.K. house prices amid limited supply took average asking prices to a record, a survey by Rightmove showed Monday. House prices hit a record GBP 249,841 in May, as new sellers raised their prices by 2.1 percent from the prior month. Prices were up by the same magniture in April.