"Hunting is the only company in the industry with complete control over the entire OCTG supply chain. With the acquisition of Thread Tech, we're now better able to provide to our Canadian customers the maximum efficiency and savings that come from a single, knowledgeable resource for tubular systems from planning and procurement through remnant management and final disposal," said Dennis Proctor, Hunting's chief executive.
Details of the transaction were undisclosed, but Hunting intends to assume all assets and operations of the company. Elmer Campbell will remain as president of the new operating unit, Hunting Thread Tech. He will report to Jim Johnson, Hunting's executive director of Western Hemisphere operations.
"Hunting and Thread Tech have had an excellent business relationship over the years," said Campbell. "We've worked together on product supply and distribution, and research and development projects that have included the use of Hunting TKC products in corrosive, and thermal and steam-assisted gravity drainage applications.
"Joining the Hunting organization is good for us and our customers. We now have a comprehensive product offering that makes us more competitive, and our customers have guaranteed sources of supply plus the added value of Hunting's Pathway(R) program. We've also enhanced our position as Western Canada's largest supplier of 13-chrome tubulars and as a solutions provider for specialty applications."
Thread Tech's primary business units specialize in the supply and service of downhole tubular goods; proprietary tubing and casing connections; internally coated tubular goods; spoolable fiber reinforced line pipe and tubing; fiberglass tubing, casing and line pipe; thread lubricants and high density polyethylene pipe. Its field service centers in Nisku, Lloydminster and Medicine Hat, Alberta, Canada, help ensure all premium, near premium and standard thread connections are installed and maintained by fully trained and equipped personnel. These centers will complement Hunting's sales and threading locations in Calgary.
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