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Stock Market & Financial Investment News

News Breaks
December 31, 2012
13:26 EDTNRNewpark Resources closes acquisition, sees accretive to 2013 earnings
Newpark Resources announced that it has completed the previously announced acquisition of substantially all assets and operations of Alliance Drilling Fluids. Total cash consideration at closing was approximately $53M. Alliance recorded revenues of $89M and operating income of $14M for the year ended December 31, 2011. Paul Howes, president and CEO of Newpark, stated, "We expect the Alliance acquisition to be accretive to Newpark's earnings in 2013."
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