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TUBOSCOPE ANNOUNCES SALE OF TKC TUBULAR CONNECTIONS BUSINESS

 TUBOSCOPE ANNOUNCES SALE OF TKC TUBULAR CONNECTIONS BUSINESS
 HOUSTON, Jan. 7 /PRNewswire/ -- Tuboscope Corporation (NASDAQ: TUBO) today announced that Tuboscope Overseas Corporation S.A., a wholly owned subsidiary, has completed the sale of its TKC Tubular Connections business to T.D. International S.A.
 In a related transaction, Tuboscope announced that it had acquired the Far East tubular inspection business of T.D. International S.A. and T.D. Inspection Pte. Limited.
 The acquired companies have tubular inspection operations in Singapore, Indonesia, Malaysia, Brunei, Pakistan, New Guinea, Thailand, Philippines, Australia and New Zealand.
 The transactions were in the form of an asset transfer. Detailed terms were not disclosed but the company expects to report a non-cash gain in the first quarter of 1992.
 In commenting on the transactions, Martin R. Reid, chairman and CEO of Tuboscope Inc., noted that the sale of the TKC business was in line with the company's strategy to concentrate on product lines where Tuboscope is a market share leader. He further noted that the acquisition of the Far East tubular inspection business will greatly strengthen Tuboscope's position in these fast growing markets.
 On Oct. 29, 1991 the company completed the acquisition of the international inspection and coating operations of Baker Hughes Vetco Services.
 Tuboscope supplies worldwide inspection and coating services for oil country tubular goods, provides in-service inspection of oil, gas and products pipelines, provides in-line inspection equipment to manufacturers of oil country tubulars. Headquartered in Houston, the company employs more than 2,000 personnel worldwide and has operations in over 42 countries. Estimated 1991 sales totaled $150,000,000.
 -0- 1/7/92
 /CONTACT: M.R. Reid or R.L. Koons of Tuboscope, 713-799-5100/
 (TUBO) CO: Tuboscope Corporation ST: Texas IN: OIL SU:


JT -- NY071 -- 7435 01/07/92 16:04 EST
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Publication:PR Newswire
Date:Jan 7, 1992
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