EDGN GROU : Edgen Group Added To Russell 2000® Index and Russell Global Index
06/26/2012| 01:05am US/Eastern
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,
"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, 225-756-9868
© Business Wire 2012