National-Oilwell Acquires HALCO

National-Oilwell, Inc. has purchased the assets and business of HAL Oilfield Pump & Equipment Company (HALCO). Located in Houston, Texas, HALCO specializes in the design, manufacture and distribution of centrifugal pumps, pump packages and related products. In 2001, HALCO generated approximately $17.5 million in revenues.

Pete Miller, National-Oilwell's president and chief executive officer, said "We are extremely pleased to have HALCO join National-Oilwell. Their system design and packaging expertise is an ideal fit with our line of Mission drilling expendable products, and they bring additional product offerings, including brake cooling packages, that complement other areas of our business. We believe the combined operation can achieve operating efficiencies that will improve our respective businesses and benefit our customers."