DYNAMIC MATERIALS ACQUIRES CANADIAN LRI OIL TOOLS
Oct. 2, 2009. The world’s leading provider of explosion-welded clad metal plates and a growing participant in the worldwide oilfield products industry (Nasdaq: BOOM), announced it has acquired 100 percent of the stock of Alberta, Canada-based LRI Oil Tools Inc. (LRI). The cash and stock transaction is valued at approximately US $650,000, and includes 9,584 shares of DMC restricted common stock. DMC intends to make an additional capital contribution of approximately US $2.2 million into the LRI business to reduce indebtedness and enhance working capital. [
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