Varco Acquires Metrox: Varco International Inc. said...
Varco Acquires Metrox: Varco International Inc. said Tuesday that it has acquired all of the outstanding common stock of Metrox Inc., a San Diego company that designs and manufactures oil and gas drilling equipment.
A privately held company, Metrox had revenue of about $3.5 million for its latest fiscal year.
“It’s a minor acquisition but an important one. Metrox brings important technology to our company,” said George Boyadjieff, chief executive officer at Varco.
Based in Orange, Varco designs and manufactures equipment and machinery for oil and gas drilling projects worldwide. The company reported revenue of about $175 million for its latest fiscal year.
In Tuesday’s trading on the New York Stock Exchange, Varco’s stock was down 12.5 cents a share to close at $7.625.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
