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|National Oilwell Varco Announces New Composite Pipe Manufacturing Facility in Saudi Arabia|
“Our decision to localize manufacturing operations in the
The facility will establish NOV as Saudi Arabia’s first local manufacturer of high-pressure spoolable composite pipe and will further enhance the Company’s ability to provide lightweight, corrosion-resistant, engineered solutions from its global team of experts supported by 12 manufacturing facilities around the world.
The new, state-of-the-art, manufacturing complex will produce spoolable and jointed pipe, including the flagship line of Fiberspar™ spoolable products, STAR™ Glass Reinforced Epoxy high pressure line pipe, and downhole tubing and casing. Operations are expected to begin in the first quarter of 2018.
Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995
Statements made in this press release that are forward-looking in nature
are intended to be “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934 and may involve risks
and uncertainties. These statements may differ materially from the
actual future events or results. Readers are referred to documents filed
National Oilwell Varco, Inc.