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Schlumberger announces agreement to Sell Wilson International Inc.

Wednesday, Apr 11, 2012

Schlumberger Limited (NYSE:SLB) announced today that it has entered into an agreement with National Oilwell Varco, Inc. (NYSE:NOV) 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.

“Schlumberger’s global supply chain has benefited from Wilson’s 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.

Source: Schlumberger

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