PFT is closing or has closed several plants in many different areas of the country just not in the Houston area. The have recently broke of of the rest of CAPS and formed a new company, 100% owned by NOV LP. Now the scuttle but is Weatherford is back in the picture but the question is will Weatherford be bought and PFT sold?
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As in press release not that I am aware of, but I do know letter have gone out to customers informing them of the name change. The name officially changes Oct 1, 2015. The name of the "new" company will be NOV Process & Flow Technologies U.S. Inc, but will remain under the caps business unit. I don't know of any other segment of CAPS that has done the same and find the timing very convenient.
Is there a formal announcement about PFT breaking away from CAPS?