National Oilwell Acquires Maritime Hydraulics

National-Oilwell, Inc. announced that it has completed the previously announced acquisition of the stock of Maritime Hydraulics (Canada) Ltd. for a total cash purchase price, including the assumption of certain debt obligations, of Canadian $25 million (approximately U.S. $16.5 million).

Maritime Hydraulics Canada designs, manufactures and sells a full line of coiled tubing units, as well as truck mounted wireline and nitrogen pumping units. Products include coiled tubing injectors rated up to 100,000 pounds and computer controlled coiled tubing systems that allow automation of field operations.

National Oilwell is a worldwide leader in the design, manufacture and sale of comprehensive systems and components used in oil and gas drilling and production, as well as in providing supply chain integration services to the upstream oil and gas industry.