Varco Acquires Albin's Enterprises Inc.
Business/Energy Editors
HOUSTON & ORANGE, Calif.--(BUSINESS WIRE)--May 22, 2001
Varco International (NYSE:VRC) announced today that it has acquired, through a subsidiary, the capital stock of Albin's Enterprises Inc. Albin's carries on the business of designing, manufacturing,
"Albin's expands our customer base and manufacturing capacity for both the nitrogen pumping and coiled tubing product lines," remarked George Boyadjieff, chairman and CEO of Varco. "Albin's has developed a unique combination nitrogen/fluid pumping unit that reduces the customer requirement for power plants and capital equipment. We are proud to add their product line to our extensive line of nitrogen pumping equipment." Albin's joins Varco's Coiled Tubing/Wireline Products Group and will operate as Hydra Rig - Duncan, Okla.
Varco International Inc. is the world's leading manufacturer and supplier of innovative drilling equipment and rig instrumentation, oilfield tubular inspections and internal coating techniques, solids control systems and services, and coiled tubing and pressure control equipment for both land and offshore drilling operations.
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