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Edgen Murray Europe Limited Results
21 April 2008
Edgen Murray Europe has reported another record year for turnover and profits during 2007. The company, which is headquartered in Edinburgh, has a staff of 130 and is a global distributor of speciality steel pipes, long products, plates, fittings and valves for the energy infrastructure industries. Current overseas office locations include Dubai, Shanghai, Singapore and Perth, Australia with further office locations planned for the coming year.
Turnover for the year to 31st December 2007 was £179.8 million, a growth of 13.6 percent on the previous year, with pre-tax profits growing by 17.4 percent to £24.2 million.
Ken Cockburn, the company’s managing director said: “Edgen Murray Europe has significantly expanded their product offering and geographic reach since being acquired from the Murray group, in December 2005, by management and Jefferies Capital Partners”.
Cockburn added: “Our results over the years have been very impressive and are a tribute to the staff we employ throughout the Company”.
Edgen Murray Europe is the Eastern Hemisphere operation of Edgen Murray II LP, a $900 million plus turnover company with 26 locations worldwide and sales to over 50 countries.
A copy of the Accounts are available by clicking on this link. Should you require any further details please do not hesitate to speak with your normal point of contact.
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Second Frame Agreement signed with Aker Kvaerner
2 April 2008
To compliment the previously agreed Piping Agreement, Edgen Murray Europe Limited is pleased to announce that Aker Kvaerner ASA has now signed a second global frame agreement with the Company. This Agreement is for the supply of Carbon Steel and Seamless Tubular Products. This second frame agreement further confirms the Aker Kvaerner strategy of investing in and developing relationships with key suppliers to ensure best value from the global marketplace. Once again Edgen Murray is delighted to be included in this further initiative and will continue to provide global support to Aker Kvaerner via all of our regional business units.
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New Edgen Murray Divisional Organisation Structure
18 January 2008
To better define and position our company for additional growth we will adopt a new divisional organizational structure and better define our corporate function and responsibilities.
Craig Kiefer has been named Executive Vice President and General Manager Edgen Murray Western Hemisphere. Mr. Kiefer will have full responsibility for the profitability, sales, marketing, operations, procurement, strategy, planning and leadership development for the division and will continue to report to me in his new capacity.
Dan Keaton has been named Chief Financial Officer, Edgen Murray Western Hemisphere. Dan will be responsible to Mr. Kiefer for the accounting, budgeting, and finance of the division. Additionally, he will report to David Laxton, Executive Vice President and Chief Financial Officer of Edgen Murray in matters related to consolidated reporting, new initiatives and execution of company wide financial and accounting policies. All current corporate accounting, credit, collections, and accounts payable personnel will become part of the Edgen Murray Western Hemisphere staff.
Ken Cockburn has been named Executive Vice President and Managing Director Edgen Murray Eastern Hemisphere. Mr. Cockburn has full responsibility for the profitability, sales, marketing, operations, procurement, strategy, planning and leadership development for the division and will continue to report to me.
David Kemp has been named Finance Director, Edgen Murray Eastern Hemisphere and will be responsible to Mr. Cockburn for the accounting, budgeting, and finance of the division. Additionally, he will report to David Laxton, Executive Vice President and Chief Financial Officer of Edgen Murray in matters related to consolidated reporting, new initiatives and execution of company wide financial and accounting policies.
David Laxton Executive Vice President and Chief Financial Officer Edgen Murray will continue to be responsible for all consolidated reporting, new initiatives, and execution of the company’s financial and accounting policies, treasury and external reporting functions. Mr. Laxton will continue to assist me in strategy and overall business development of Edgen Murray.
Glenn Marcel has joined the corporate staff of Edgen Murray as Vice President and General Counsel responsible to me for the coordination and execution of all legal affairs and regulatory compliance.
Jerry Daly has been named Sr. Vice President of Administration for Edgen Murray. Jerry’s responsibilities include human resource administration and coordination, facilities management, risk management, safety, security, travel, quality system coordination and environmental compliance.
Bob Gilleland, Sr. Vice President Global Supply Chain will continue his current responsibilities and is working closely with Mr. Kiefer to integrate procurement systems and inventory control responsibilities in the Western Hemisphere.
Alan Jones, Sr. Vice President and Chief Information Officer will continue to be responsible for all of Edgen Murray’s technology needs, information systems development and integration.
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Edgen Murray Europe Limited Results
26 October 2007
Edgen Murray Europe Limited is pleased to release the Company's Financial Statement for the eleven month period ending 31st December 2006. For this period the company generated turnover of £158.154m. This produced a gross profit of £31.965m. Profit before tax for the same period was £20.610m. A copy of the Accounts are available by clicking on this link. Should you require any further details please do not hesitate to speak with your normal point of contact.
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Aker Kvaerner Frame Agreement Piping Products
4 September 2007
Aker Kvaerner ASA has recently signed a global frame agreement with Edgen Murray Europe for supply of Piping Products in a range of corrosion resistant alloys and carbon steel. The frame agreement is part of Aker Kvaerner's strategy to invest in and develop the relationships with key suppliers and to get best value from the global marketplace by working with a select group of companies who have the potential to offer overall cost reductions and delivery improvements to Aker Kvaerner. As such Edgen Murray is delighted to be included in this initiative and aims to provide global support to Aker Kvaerner via all our regional business units.
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