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 volume 14, issue #9 - Thursday, June 18, 2009

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National Oilwell Varco acquires two European service companies

13-04-09 National Oilwell Varco has acquired ASEP Group Holding and Anson Limited.
ASEP, based in the Netherlands, develops and manufactures well service equipment, including wireline units, cranes, coiled tubing equipment, pressure control products, and automation products. ASEP's extensive international presence and sophisticated technologies will strengthen NOV's Well Intervention and Stimulation Equipment product offering.

Anson, based in the UK, manufactures flowline equipment, manifolds, valves, swivel joints, hammer lug unions, and wellheads, which will complement NOV's Mission pump and fluid expendables products.
Anson also extends NOV Mission's international reach, to better serve its customers.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, "We are pleased to add these fine organizations to NOV, and believe each enhances the level of service and technology we can provide our customers."
"We continue to focus on long-term fundamentals of the oil and gas business as we seek to improve our strategic position, and we're pleased that our strong balance sheet enables us to capitalize on attractive opportunities."

Source: http://www.scandoil.com



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