Cameron Awarded $600 Million Order From Petrobras, Brazil
HOUSTON, March 12, 2013 /PRNewswire/ -- Cameron (NYSE: CAM) has received an order totaling approximately $600 million for the supply of 47 subsea trees and associated equipment. The deliveries for the equipment, destined for Pre-Salt and Post-Salt areas offshore Brazil, will commence in 2014.
Cameron Chairman, President and Chief Executive Officer Jack B. Moore said, "Cameron welcomes the opportunity to continue to support Petrobras. This order will be supported by the expansion of our manufacturing capabilities in Brazil, completed this quarter."
Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.
In addition to the historical data contained herein, this document includes forward-looking statements regarding future revenues of the Company resulting from this contract made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results may differ from those described in forward-looking statements. These statements are based on current expectations of the Company's performance and are subject to a variety of factors, some of which are not under the control of the Company. Such factors include the Company's ability to successfully manufacture and deliver, and the customer's acceptance of the subsea equipment ordered, or the cancellation of some or all of the order.
Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company's future performance. Additionally, the Company is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.
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