Acquisition

Hunting PLC 19 March 2002 19 March 2002 HUNTING PLC Acquisition of Roforge for £4.2 million Hunting Petroleum France, a subsidiary of Hunting PLC, announces the acquisition of Roforge, based in Saint-Chamond near Lyon, France for a cash consideration of £4.2 million. Roforge formed in 1975 manufactures forged steel valves for use in the Energy, Refining and Petrochemical industries. At 31st December, 2001, Roforge had net assets of £2.6m including £1.8m net cash. Turnover and operating profit for the year to 31st December 2001 were £3.7m and £1.0m respectively. Commenting on the acquisition, Dennis Proctor, Chief Executive of Hunting PLC, said: 'The acquisition of Roforge enhances the range of products and services offered by Hunting Petroleum France, and builds Hunting's global mix of operations. This is our seventh acquisition in twelve months and we will continue to consider future strategic acquisitions that enhance and complement our existing range of products and services. However our priority for the year is to focus on portfolio management, capital discipline and cost containment.' Enquiries: Dennis Proctor 001 281 442 7382 Chief Executive, Hunting PLC Dennis Clark Finance Director, Hunting PLC 020 7321 0123 Catriona McDermott Brunswick Group Limited 020 7404 5959 Notes to Editors: Hunting PLC is an international oil services company providing support solutions to the world's largest oil and gas companies. This information is provided by RNS The company news service from the London Stock Exchange KBABKDFND

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Hunting (HTG)
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