IPSCO Completes Acquisition

IPSCO Inc. has completed its acquisition of NS Group, Inc. The aggregate price is abouty $1.46 billion, including NS Group's net cash.

This transaction represents a strategic opportunity for IPSCO to broaden its energy product offering and become the leading North American supplier of tubular products to the oil and natural gas sector. IPSCO's energy product offering has also been expanded to include NS Group's highly attractive seamless pipe and premium oilfield services provided by ULTRA, NS Group's recent acquisition.

"With a more diverse portfolio of products, enhanced production capabilities, excellent market positions in both seamless and welded pipe, and a strong commitment to our customers, IPSCO is well positioned to be the provider of choice in the North American energy pipe market. Moreover, we believe that this transaction will further enhance our ability to provide value-added products and services to our customers and create value for our shareholders," said David Sutherland, president and CEO.