Business Briefs

Sandvik acquires Varel International Energy Services

May 22, 2014

Sandvik AB has completed its acquisition of Varel International Energy Services Inc. in its entirety, including all three of its operating units – Downhole Products, Varel Oil & Gas Drill Bits, and Varel Mining & Industrial.

Offshore staff

CARROLLTON, Texas – Sandvik AB has completed its acquisition of Varel International Energy Services Inc. (VIES) in its entirety, including all three of its operating units – Downhole Products, Varel Oil & Gas Drill Bits, and Varel Mining & Industrial.

VIES will become a platform for Sandvik to expand into the upstream oil and gas industry, and will as such be managed and supported as a stand-alone product area within Sandvik Venture.

05/22/2014