Edgen Group Added To Russell 2000® Index and Russell Global Index
Published on Tuesday, 26 June 2012 01:04 Written by TradersHuddle StaffBATON ROUGE, La.-( Business Wire )-
Edgen Group Inc. (NYSE: EDG), a leading global distributor of specialized products including steel pipe, valves, plate, and related components to the energy sector with $1.7 billion in 2011 annual sales, today announced it was added to the Russell 2000® Index and Russell Global Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes at the market close on June 22, 2012.
“We are very pleased to be included in the Russell 2000 and Russell Global Indexes which reflect our continued positive momentum as a new public company,” said the Company’s Chairman, President and Chief Executive Officer, Dan O’Leary. “We look forward to introducing our company to a broader investment audience through this channel.”
Edgen Group is comprised of two commercial units. Edgen Murray distributes high performance steel products for oil and gas, infrastructure and mining applications including offshore rig construction, natural gas transmission and refining and petrochemical applications in all major global energy markets. Bourland & Leverich supplies specialized OCTG products to the upstream conventional and unconventional onshore drilling market in the United States.
“We believe that our model, focused on delivery of specialized products to customers throughout the energy sector and around the world, offers value to our current and potential shareholders,” said O’Leary.
Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. In the institutional marketplace, an industry leading $3.9 trillion in assets are currently benchmarked to them. The Company will hold its membership until Russell reconstitutes its indexes in June 2013.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed, multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell’s core capabilities extend across capital markets insights, manager research, Indexes, portfolio implementation and portfolio construction. Additional information is available at www.russell.com.
About Edgen Group
Edgen Group is a leading global distributor of specialized products and services to the energy sector and industrial infrastructure markets, including steel pipe, valves, quenched and tempered and high yield heavy plate, and related components. Edgen Group is headquartered in Baton Rouge, Louisiana. Additional information is available at www.edgengroup.com.
Forward Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could affect future results and cause actual results and events to differ materially from the statements made. Example of such risks and uncertainties are described in our prospectus filed with the Securities and Exchange Commission on April 27, 2012 and in subsequent filings with the Securities and Exchange Commission including the most recent reports on Forms 10-Q and 8-K. We undertake no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Edgen Group Inc.Erika Fortenberry, 225-756-9868Director of Investor Relations
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