Cooper Cameron has elected John Carne, president of the Cooper Cameron Valves Division, as a senior vice president of the parent company, Cooper Cameron Corp. Carne was previously a vice president of Cooper Cameron and will continue in his role as president of CCV, a position he has held since April 2002.
Maverick Tube Corp. has entered into a marketing agreement with Rocky Mountain Steel Mills (RMSM), whereby Maverick will have the exclusive worldwide right to market and sell RMSM premium seamless oil country tubular goods (OCTG) products. This agreement is for a minimum of 48,000 tons per year and commences immediately.
IPSCO Inc. announced an expenditure of $27.5 million on a coil preparation facility and other related enhancements to its large diameter spiral pipe mill operations located in Regina, Saskatchewan. The new prepping area and equipment modifications will improve yield and productivity, as well as increase capacity in excess of 25% from these mills. Upon completion of the project, IPSCO's annual large diameter capacity, which is dependent on varying pipe diameters, may exceed 375,000 tons.
Walter Industries Inc. announced in early March executive changes to prepare for a strategic realignment of its businesses. As previously announced, the company has submitted an S-1 filing to the Securities and Exchange Commission for an initial public offering (IPO) of the company's Water Products Business (Mueller, Anvil and U.S. Pipe).
Rotork has acquired the business and assets of Omag Snc, an Italian valve gearbox manufacturer based in Milan. The acquisition provides Rotork's Gears division with a manufacturing and sales base in the Italian valve market in addition to its current manufacturing and assembly sites in the United Kingdom, United States and The Netherlands.
Northwest Pipe Co. reported the highest annual sales and earnings in its history for 2005. Sales were $329 million, compared to $292 million in 2004, and annual net income was $13.4 million, compared to $12.4 million in 2004. Tubular Products Group sales were $80.7 million, compared to $102.5 million the previous year. The decline was attributable to exceptional sales in 2004 that were unsustainable.
Walter Industries Inc. announced on Jan. 31 that its Mueller Water Products subsidiary purchased the operating assets of CCNE, LLC for approximately $8.8 million. Based in Vernon, CT, CCNE is a privately-held contract producer and distributor of check valves used in water and wastewater treatment and distribution systems.
IPSCO Inc. announced record net income in 2005 of $585.8 million, compared to $454.9 million in 2004. The increased earnings are primarily attributable to higher average selling prices, increased margins across most product lines, and a stronger product mix due to record sales of energy tubular products.