National Oilwell Announces Acquisition of Dupre' Companies
Joel Staff, Chairman, President and CEO of National-Oilwell,
stated "This merger fits National Oilwell's strategy of lowering our
customers' total costs of ownership through supply chain optimization
and comprehensive product offerings. Dupre's oilfield distribution
strength, particularly in the production and industrial markets, will
enhance our ability to be the industry's leading provider of MRO
National Oilwell is a worldwide leader in the design, manufacture
and sale of machinery, equipment and downhole tools used in oil and
gas drilling and production, as well as in the distribution to the oil
and gas industry of maintenance, repair and operating products.
Simmons & Company International, a Houston-based investment bank
specializing in the energy services industry, served as financial
advisors to the Dupre' Companies in the transaction.
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 actual future events or results. Readers are referred
to documents filed by the Company with the Securities and Exchange
Commission, including the Annual Report on Form 10-K, which identify
significant risk factors which could cause actual results to differ
from those contained in the forward-looking statements.
CONTACT: National-Oilwell, Inc., Houston Steve Krablin, 713/346-7773