Weatherford acquires V-Tech

Weatherford has completed its acquisition of V-Tech AS.

Offshore staff

KRISTIANSAND, Norway -- Weatherford has completed its acquisition of V-Tech AS.

V-Tech AS is a Norwegian start-up company providing tubular running equipment and related services

"Weatherford's acquisition of V-Tech will provide an important catalyst for the future development and commercialization of our products and services on a broader scale," says Tor Hodne, MD of V-Tech.

Through the integration, V-Tech will gain access to Weatherford's distribution networks, with more than 700 locations world wide. V-Tech equipment will be marketed globally under the name VTech directly via Weatherford's rig mechanization systems.

02/08/2008

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