BATON ROUGE, La.--Edgen Group Inc. (NYSE: EDG), a 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, 2012.
We look forward to introducing our company to a broader investment audience through this channel.
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.