Smith International Voluntarily Delists from the NYSE Arca
Smith International, Inc. stated plans to voluntarily withdraw its common stock from listing on the NYSE Arca, Inc., formerly known as the Pacific Exchange. Smith's common stock will continue to be listed on the New York Stock Exchange, our principal listing exchange.
The decision to delist from NYSE Arca was made to eliminate duplicative administrative requirements and costs inherent with dual listings as a result of the NYSE Group's merger with Archipelago Holdings, the parent company of NYSE Arca. The withdrawal is expected to be effective within the next month; however, after that time, Smith's stock will continue to trade on an unlisted trading privilege basis.
Smith International, Inc. is a leading supplier of premium products and services to the oil and gas exploration and production industry. The Company employs over 18,500 full-time personnel and operates through four principal business units - M-I SWACO, Smith Technologies, Smith Services and Wilson.
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