National Oilwell Acquires Rye Supply Company

National-Oilwell, Inc. announced that it has acquired Rye Supply Co., Inc. Rye Supply operates eight distribution locations in West Texas and New Mexico and generated approximately $20 million in revenues in 2000.

Pete Miller, National Oilwell's president and chief executive officer, said "The addition of the Rye Supply locations to National Oilwell's distribution network greatly enhances our presence in this region, providing access to the expanding gas production market and service outlets for our drilling contractor customers in the area. We look forward to continuing Rye Supply's longstanding history of superior service and believe their customers will benefit from the broadened products and services offered by our combined operations."