National Oilwell Varco Snaps Up 2 European Service Cos

National Oilwell Varco, Inc. has acquired ASEP Group Holding B.V. 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. ASEP has 555 employees and four manufacturing locations, and operations in nine countries.

Anson, based in the U.K., 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. Anson has 443 employees, one manufacturing location, and operations in five countries.

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."

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.


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