TUBOSCOPE VETCO INTERNATIONAL ACQUIRES DJ INSPECTION SERVICES INC.
HOUSTON, Feb. 4 /PRNewswire/ -- Tuboscope Vetco International (NASDAQ-NMS: TUBO) today announced that it has entered an agreement to acquire the oilfield inspection assets of DJ Inspection Services Inc. DJ Inspection provides oil country tubular goods inspection services in three Texas locations and had 1992 sales of $6.2 million. Terms of the transaction were not disclosed. In commenting on the acquisition William V. Larkin Jr., president of Tuboscope Vetco International stated, "This acquisition reemphasizes Tuboscope Vetco International's commitment to the U.S. oilfield market. The acquisition also expands TVI's market coverage of independent operators which represent a growing segment of today's market." Tuboscope Vetco International is the world's leading supplier of coating and inspection services to the petroleum industry; supplies in- service inspection for oil and gas pipelines; sells and leases advanced in-line inspection equipment to makers of oil country tubular goods and provides quality assurance and inspection services to a diverse range of world-wide industries. Tuboscope Vetco International is headquartered in Houston and services markets in over 54 countries. 1991 sales were $151.8 million. The company's parent is traded on the NASDAQ National Market System under the symbol "TUBO". -0- 02/04/93 /CONTACT: Ronald L. Koons or William V. Larkin Jr. of Tuboscope Vetco International, 713-799-5100/ (TUBO)
CO: Tuboscope Vetco International; DJ Inspection Services, Inc. ST: Texas IN: SU: TNM
AH -- NY124 -- 3240 02/04/93 17:36 EST
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|Date:||Feb 4, 1993|
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