Schlumberger Announces Agreement to Sell Wilson International Inc.
HOUSTON--(BUSINESS WIRE)-- Schlumberger Limited (SLB) announced today that it has entered into an agreement with National Oilwell Varco, Inc. to sell its Wilson distribution business. Schlumberger acquired Wilson International Inc. as part of the acquisition of Smith International in 2010. Closing of the transaction is subject to customary regulatory approvals.
Schlumbergers global supply chain has benefited from Wilsons best-in-class distribution practices and we look forward to working with Wilson in the future, commented Paal Kibsgaard, Schlumberger Chief Executive Officer.
Founded in 1921, Wilson is a leading distributor of pipe, valves and fittings as well as mill, tool and safety products and services to the international energy business and to other industrial customers. The company manages a distribution business of approximately 200 sales and operations locations across the United States with a growing presence in other key international geographies. Wilson employs approximately 2,500 employees as a standalone Schlumberger business unit.
Schlumberger is the worlds leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing more than 113,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industrys widest range of products and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston and The Hague, and reported revenues of $39.54 billion in 2011. For more information, visit www.slb.com.
Malcolm Theobald, +1-713-375-3535
Vice President of Investor Relations
Stephen Whittaker, +33 1 4062 1308
Director of External Communications
Source: Schlumberger LimitedCopyright Business Wire 2012