HOUSTON, Nov. 11, 2016 /PRNewswire/ -- Dril-Quip,
Inc. (NYSE: DRQ) announced today that it has completed its
previously announced acquisition of TIW Corporation. TIW,
based in Houston, Texas, is a
global provider of liner hanger systems and related equipment and
services.
Blake DeBerry, President and
Chief Executive Officer of Dril-Quip, stated, "We are excited to
complete the acquisition of TIW Corporation, the first in
Dril-Quip's history, and welcome TIW employees to the Dril-Quip
team. In addition to expanding our offshore and onshore
market opportunities, this transaction allows us to significantly
expand our product offerings to our customers."
About Dril-Quip
Dril-Quip is a leading manufacturer of highly engineered
offshore drilling and production equipment, which is well suited
for use in deepwater, harsh environment and severe service
applications.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding the acquisition of TIW, including statements
regarding the anticipated benefits of the acquisition.
Forward-looking statements are based upon certain assumptions and
analyses made by the Company in light of its experience and
perception of historical trends, current conditions, expected
future developments and other factors. These statements are subject
to risks, some of which are beyond the Company's control, including
but not limited to, the potential benefits of the acquisition,
decisions made by the Company's customers and suppliers and other
factors detailed in the Company's public filings with the
Securities and Exchange Commission. Investors are cautioned
that any such forward-looking statements are not guarantees of
future performance and actual outcomes may vary materially from
those indicated.
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SOURCE Dril-Quip, Inc.