Sandvik acquires Varel International Energy Services

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.

May 22nd, 2014

Offshore staff

CARROLLTON, TexasSandvik 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

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