Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

National Oilwell Varco To Buy Schlumberger's Wilson Distribution Business

RELATED NEWS
Trade NOV now with 

National Oilwell Varco, Inc. (NOV: Quote) said Tuesday that it has entered into an agreement with Schlumberger Ltd. (SLB: Quote) to purchase its Wilson distribution business segment.

Terms of the all-cash deal, which remains subject to customary closing conditions, including regulatory approval, were not disclosed.

Wilson is a distributor of pipe, valves and fittings as well as mill, tool and safety products and services to the international energy business and to other industrial customers. Wilson employs about 2,500 employees as a standalone Schlumberger business unit. Schlumberger acquired Wilson International Inc. as part of the acquisition of Smith International in 2010.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, said, "We are excited about the new market opportunities Wilson will open for our Company, and we look forward to welcoming the Wilson employees into National Oilwell Varco soon."

Click here to receive FREE breaking news email alerts for National Oilwell Varco Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.