Pipe Acquisition Limited, the parent company of Edgen Murray
Europe Limited, Edgen Murray FZE and Edgen Murray Pte, Ltd., announced
today that on May 11, 2007, its majority-owned subsidiary, Pipe
Acquisition Finance Plc (the "Issuer" and, collectively, the
"Company"), has called for redemption all of its outstanding senior
secured floating rate notes (the "Notes") on the redemption date of
June 11, 2007.
The redemption price is in an amount equal to 103% of the
aggregate principal amount of the Notes being redeemed, plus accrued
and unpaid interest, including as applicable, additional interest and
additional amounts, thereon to the redemption date.
ABOUT PIPE ACQUISITION LIMITED
The Company is a leading global distributor and marketer of high
performance steel products for use in specialized applications in the
energy infrastructure market, primarily to the offshore oil and gas
industry. The products the Company sells are generally highly
engineered prime carbon pipe, pipe components and high grade
structural sections and plates, which are designed to withstand the
effects in extreme operating conditions. The Company, with its sister
corporation, Edgen Murray Corporation, currently serves customers in
more than 50 countries worldwide through 23 locations internationally,
including 15 in the United States, two in Canada, three in Europe/West
Africa, two in Asia/Pacific, and one in the Middle East. Additional
information may be obtained from Edgen Murray's website at
www.edgenmurray.com.
Forward-Looking Statements: This press release contains
forward-looking statements. The forward-looking statements are based
on the Company's current expectations and beliefs concerning future
developments and their potential effects on the Company. There can be
no assurance that future developments affecting the Company will be
those anticipated by the Company. These forward-looking statements
involve a number of risks, uncertainties and other factors that may
cause actual results to be materially different from those expressed
or implied in the forward-looking statements. Important factors that
could cause the statements made to differ include that the
transactions are subject to a number of conditions and approvals. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
