Varco Announces New Mud Pump Product Line

Varco International Inc. has entered into an agreement with LeTourneau Ellis Williams Co., a wholly-owned subsidiary of Rowan Companies Inc., for LEWCO to manufacture and Varco to sell a line of general duty and heavy duty oilfield mud pumps, parts and accessories. The agreement provides for Varco to utilize its worldwide sales and service network to distribute the LEWCO balanced crankshaft line of pumps and provide aftermarket service and support under the Varco brand name.

George Boyadjieff, Varco's chairman and CEO, added, "We are pleased to be able to offer a high performance mud pump to our drilling contractor customers. This represents a significant step forward for Varco to provide complete offshore and land drilling rig packages."

Bob Palmer, Rowan chairman and CEO, commented, "We believe this agreement will expand marketing capabilities and product support for LEWCO's line of pumps. We look forward to enlarging our customer base and to increase sales."