| Ticker: NAT | 5555 San Felipe | |
| Exchange: New York Stock Exchange | Houston, Texas 77056 | |
| Industry: Wholesale | (713) 960-5100 |
| Type of Shares: | Common Shares | Filing Date: | 8/29/96 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 10/28/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 4,000,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.19 | |
| Offering Amount: | $64,000,000 | Selling: | $0.72 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 17,590,409 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-1172 |
| Simmons & Company | Co-manager | (713) 223-7840 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $545.80 | $294.64 | $266.44 | Assets: | $259.48 |
| Net Income: | $17.64 | $4.00 | $9.38 | Liabilities: | $225.50 |
| EPS: | $0.30 | Equity: | $33.98 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a worldwide leader in the design, manufacturer and sale of machinery and equipment and in the distribution of maintenance, repair and operating products used in oil and gas drilling and production. The company designs, manufactures and sells drawworks, mud pumps and power swivels, which are the major mechanical components of rigs used to drill oil and gas wells. Many of these components are components are designed specifically for applications in offshore, extended reach and deep land drilling. These components are installed on new drilling and used in the upgrade, refurbishment and repair of existing drilling rigs. A significant portion of the company's business includes the sale of replacement parts for its own manufactured machinery and equipment. The company provides distribution services through its network of 113 distribution service centers located near major drilling and production activity worldwide. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay certain outstanding indebtedness, essentially all of which was incurred to fund the acquisition of the company and for general corporate purposes. |
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