Cameron to significantly expand and further develop its manufacturing facility in Longford

Our products have high value added content and require a high degree of skill and experience to manufacture to the very exacting standards demanded by the industry and the certification required. From our experience with our existing highly talented Irish workforce we are confident that we will quickly recruit the additional high-calibre people we require.

Mr. Bob Walker, Director of Operations EH at Cameron Flow Control

10/04/2008

Cameron Ireland Limited
Global Centre of Excellence adding 140 new jobs

Minister for Enterprise, Trade and Employment Micheál Martin TD today (Thursday 10th April 2008) announced that Cameron Corporation (NYSE:CAM), of the US, one of the world’s leading providers of oil and gas pressure control equipment and services to the global oil and gas exploration industry, is to significantly develop and expand its existing manufacturing and R&D facility in Longford Town, with the support of IDA Ireland. It will create 140 high quality jobs over the next five years in engineering and support activities. In addition, €15 million will be invested in new buildings and equipment. Phase 1, costing €5 million, is due for completion by July this year, with a further €10 million planned for investment over a five year period.

Minister Martin said “The story of Cameron in Longford is a great example of how a company evolves, by taking on additional knowledge-based activities to have a crucial advantage over international competitors. Since its arrival to Longford in 1978, Cameron has continued to grow taking on the manufacturing of new products, extending its mandate and its markets. In 2004 a new R&D Centre was added which resulted in the development of a Chemical Injection Metering Valve which is now in production in Longford. Today’s investment by Cameron Ireland is an important enhancement of its integral role in the company’s global business and followed lengthy consideration of a number of locations worldwide for the development.”

The Minister continued “This expansion represents a very significant investment in the engineering sector in the Midlands and will benefit the entire region by providing high quality positions and strengthen the local industry base. We are delighted to join Cameron in celebrating 30 years in operation in Ireland this year. Today’s news is excellent for Longford and the region and will also considerably enhance the company’s already important economic contribution throughout the area.”

The Longford facility has a highly successful track record in the R&D and manufacture of critical components which have contributed to the success of Cameron’s global business. Its products, sub-sea chokes and actuators, designed, developed and manufactured at Longford have to withstand massive temperature and pressure variations, with a zero fault tolerance for 20 years, as they will ‘live’ on the ocean floor as part of a highly sophisticated valve and metering arrangement to control the flow of oil and gas at the wellhead.

Mr. Bob Walker, Director of Operations EH at Cameron Flow Control, said “In making the decision to undertake this investment at the Longford facility, we know that it will be implemented quickly and successfully, as the site has an excellent track-record with new responsibilities given to it over 30 years. Our products have high value added content and require a high degree of skill and experience to manufacture to the very exacting standards demanded by the industry and the certification required. From our experience with our existing highly talented Irish workforce we are confident that we will quickly recruit the additional high-calibre people we require.”

Cameron Ireland Ltd was established in Longford in 1978 to produce chokes and actuators for the North Sea oil & gas exploration market. These products are used in drilling operations to regulate the flow of crude oil and gas both on land and subsea installations. It operates in a very competitive business, with design, manufacturing and sales operations in all the leading oil and gas production locations worldwide. The new investment will further develop Cameron Ireland Ltd. as the global centre-of-excellence for its high value products and as the lead role in procurement and engineering for the “Cameron” and “Flow Control” range globally. A new entity is also being established at the site, Cameron Systems (Ireland) Ltd., to manage non-US based intellectual property (IP) and the highly successful R&D function of Cameron Ireland.

Cameron in Longford

Cameron Ireland, established in Longford in 1978, employs over 220 people and has specific responsibility for the manufacture of sub-sea chokes and actuators for the oil and gas exploration markets. The products are used in drilling operations to regulate the flow of oil and gas both at sub-sea level and above the surface. Initially it manufactured these products for the North Sea oilfield, however, over the years it has been given added responsibility and functions, such as a R&D Centre, and has extended its mandate to cover Europe, Asia/Pacific and Middle East markets.

Cameron International Corporation

Cameron International Corporation, Houston, Texas, US, is one of the leading suppliers globally of sophisticated flow control and measuring equipment in the oil and gas industry, with design, manufacturing and sales operations in all the leading oil and gas production locations worldwide. It employs over 12,400 people worldwide in three operating divisions - drilling and production systems, valves and measurement and compression systems. Its products include blowout preventers, flow control valves, surface and sub-sea productions systems and related oilfield service products. It is traded on the New York Stock Exchange (CAM) and has annual revenues of $3.74 billion and net income of $318 million.

For further information:

Cameron media contact –
Bob Walker, Director of Operations EH, Flow Control, Cameron Ireland Ltd
– Tel: 043 50600

Department of Enterprise, Trade and Employment –
Press Office, Tel: 01- 6312200
Jerry O’Connor, Press Advisor, Department of Enterprise, Trade and Employment, 087 6630338/016312200

IDA Ireland –
Ruth Croke, Press & PR Manager. Tel: 087 4195051 ruth.croke@ida.ie
Brendan Kenny, Press & PR Officer, Tel: 087 9036126