logo
  Join        Login             Stock Quote

Curtiss-Wright (CW) Buys Cimarron Energy For $135.1M

 November 26, 2012 12:00 PM
 


(By Balaseshan) Curtiss-Wright Corp. (NYSE: CW) said it has purchased Cimarron Energy Inc. through the acquisition of its parent company Cimarron Energy Holding Co. LLC, for about $135.1 million in cash.

The business will become part of Curtiss-Wright's Flow Control segment. Headquartered in Norman, Oklahoma, Cimarron has 368 employees. Its 2012 sales are expected to be about $124 million.

Cimarron is a manufacturer of highly customized and engineered energy production, processing and environmental solutions for the U.S. oil and gas industry. Founded in 1976, Cimarron provides customized, highly engineered production, processing and environmental equipment and solutions essential to the production of oil and gas.

[Related -Curtiss-Wright Corp. (CW): Fundamental Stock Research Analysis]

With the acquisition of Cimarron, Curtiss-Wright is diversifying from its current downstream refining segment into the emerging, high growth U.S. shale oil and gas market in the upstream and midstream segments of the industry.

In addition, Cimarron provides significant opportunities for Curtiss-Wright to build new market share in the U.S. and Canada, as well as international markets. The U.S. has vast reserves of shale oil and natural gas that will help drive the country towards energy independence.

Cimarron's energy production and processing equipment includes separators, combination separator/hydrator units, flow back and oil treating equipment. It also manufactures a full suite of environmental solutions that control toxic well site emissions, provide improved equipment energy efficiency and enable remote monitoring of equipment functions.

[Related -Dividend Roundup: BRCM, CW, FDS, IP, L, NDSN]

Products include emission control devices, burner management systems and vapor recovery towers, as well as re-manufactured and repaired production and processing equipment and related parts.

CW is trading up 0.88% at $31.04 on Monday. The stock has been trading between $28.55 and $41.91 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageFord Motor Company (F): A long Road to Deutsche Bank’s $19 Target

Ford Motor Company (NYSE:F) is going the right way on a one way street where most everybody else is driving read on...

article imageCitigroup Inc (C) Q1 Earnings Preview: Too Many Parts Heading South

Citigroup Inc (NYSE:C) will issue its first quarter results via press release at approximately 8 a.m. (ET) read on...

article imageFacebook Inc (FB): You Might Not Like It Today, But You’ll Like It Tomorrow

Do you honestly want to invest in stocks right now? It sure looks like the bull market is at least on read on...

article imageJPMorgan Chase & Co. (JPM) Q1 Earnings Preview: Regulation Costs To Trim Guidance?

JPMorgan Chase & Co. (NYSE:JPM) will host a conference call to review first quarter 2014 financial results read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.