- Vallourec SA (France, SEDOL: 4926447, GICS: Industrials, GICS Code: 20106020) will replace Schering AG (Germany, SEDOL: 4845757, GICS: Pharmaceuticals, GICS Code: 35202010) in the S&P Europe 350, S&P Euro Plus and S&P Euro indices. Schering is being deleted from the S&P European indices following the successful acquisition by Bayer AG.
Vallourec SA is a leader in production of seamless steel tubes, providing for sectors such as oil & gas, power generation, chemicals & petrochemicals and mechanical engineering. The number of shares outstanding is 10,600,332 and the Investable Weight Factor will be 0.689. The company will be added to the S&P Europe 350 GICS (Global Industry Classification Standard) Industrial Machinery sub-industry.
Following is a summary of the announced addition and deletion:
S&P Europe 350, S&P Euro Plus and S&P Euro – close of trading 23rd June 2006 |
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COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | Vallourec SA | Industrials | Industrial Machinery |
DELETED | Schering AG | Pharmaceuticals | Pharmaceuticals and Biotechnology |
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