NOV completes Grant Prideco acquisition

National Oilwell Varco has completed the acquisition of Grant Prideco.

Offshore Staff

HOUSTON -- National Oilwell Varco has completed the acquisition of Grant Prideco.

"We are delighted with the way this transaction advances our strategic goal of providing more products and services to our customers," says Pete Miller, chairman, president, and CEO of NOV.

"We believe Grant Prideco's product range will add new growing market segments to National Oilwell Varco and benefit our customers' needs worldwide. We believe this transaction will afford excellent opportunities for the stockholders and customers of both companies. We look forward to welcoming Grant Prideco's employees to the National Oilwell Varco organization and working together to realize the new opportunities we expect to achieve from this combination."

04/28/2008

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