Schlumberger, Smoth complete merger

Schlumberger has closed its merger with Smith International Inc. at a transaction value of $11 billion.

Offshore staff

HOUSTON – Schlumberger has closed its merger with Smith International Inc. at a transaction value of $11 billion.
.
“We are ready to begin the process of realizing the synergies made possible by this merger and our focus in the near term is on the execution of plans that have been laid out these past few months while continuing to deliver safety and quality in our field operations,” says Andrew Gould, chairman and CEO of Schlumberger.

“The quality of the integration planning process has been outstanding and everyone is looking forward to exceeding expectations,” says John Yearwood, former Smith CEO.

09/01/2010

More in Company News