IPSCO completes NS Group acquisition

December 4, 2006

IPSCO Inc. has announced the completion of its acquisition of NS Group Inc., a manufacturer of seamless and welded oilfield tubular goods, following a favorable vote by NS Group shareholders.

This transaction represents a strategic opportunity for IPSCO to broaden its energy product offering, the company said. The energy product offering has also been expanded to include NS Group's seamless pipe and oilfield services provided by ULTRA, NS Group's recent acquisition.

IPSCO is a producer of energy tubulars and steel plate in North America with an annual steel making capacity of four million tons. With the acquisition of NS Group, IPSCO now operates four steel mills, eight pipe mills, scrap processing centers, and product finishing facilities in 25 geographic locations across the U. S. and Canada.