- 14 February 2007 -
Ameron pipe group reports record sales in 2006

THE FIBERGLASS-Composite Pipe Group of Ameron International Corp has reported record sales and segment income in 2006. Sales were up by 32% and segment income by 54% in comparison to 2005 figures.

The improvement in sales was concentrated in the industrial, onshore oilfield, marine and offshore markets. Particularly strong performances were recorded in the marine and offshore markets, served primarily from Ameron’s Singapore and Malaysia subsidiary operations.

Ameron International Corp as a whole had a net income of US$52.2 million for the year ending 30 November 2006, an increase of $19.6 million on the previous year. Sales from continuing operations were $549.2 million compared to $494.8 million in 2005.

“The company’s performance in 2006 was outstanding, and our businesses operated at a high level in response to favourable market conditions,” comments James Marlen, chairman, president and CEO of California, USA-based Ameron. “The company achieved record levels in net income and earnings per share. We anticipate another strong operating performance in 2007, and, longer term, we believe our core businesses will continue to demonstrate steady, profitable growth.”

Ameron International Corp; www.ameron.com  

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