Corporate finalizing with lawyers. Details to be under microscope. This is an earth shaker.
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And Manchester
Eldridge to consolidate, Move essential personnel to Conroe. Mothball plant til 17.
Remember this.....
When discussing market conditions and strategy during the company’s third-quarter conference call in October, National Oilwell Varco CEO Clay Williams emphasized the company’s cost-cutting efforts, as well as the opportunity for expansion ahead of the oil-price recovery that eventually “will come.”
It has been difficult for the company to find bargain acquisition targets, and Williams said the company remained “patient and disciplined in these discussions.”
“As we move into 2016, we believe sellers are likely to reduce their expectations and better capital returns on M&A will follow. Consequently, our capital deployment strategy is shifting from share buybacks to an external focus on potential acquisitions,” he said.
Oh, shut up for once please