- 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 |
|||
| COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
| ADDED | Vallourec SA | Industrials | Industrial Machinery |
| DELETED | Schering AG | Pharmaceuticals | Pharmaceuticals and Biotechnology |
About Standard & Poor’s
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With approximately 6,300 employees located in 20 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.
