It has been discussed to dissolve DDS and split between Rig and D&I. Is this going to happen before end of Q3?
12 replies (most recent on top)
NOV will give DDS folks a peace of mind before or after the Labour Day weekend. Be prepared.
NOV bought Tolteq and customers are going to Tolteq competitor BechTree and Compass Guidance for equipment purchase. Well done NOV.
One less engineering director to worry about. One gone more to go.
NOV is killing Tolteq (if not already have).
DDS acquired Tolteq this year (also in Cedar park). Plans were announced last week to close the tolteq campus and move them to the CP NOV building at the end of the year.
If all of CP is closing, it isn't common knowledge.
No doubt without a turnaround there will be layoffs, but I doubt a closure of the whole facility this year.
NOV DDS Ceder Park is marked by cooperate for closure end of this year unless business does not pick back up.
It looks like this will be a long slow oil and gas recovery and NOV do not have the patients.
Previous comment makes perfect sense. DDS has been gutted in the last couple of weeks
Announcement to be send out soon. It will be cooperate so you will have to read in between lines.
When is this gonna happen?
Rig Solution plants will be consolidated, & more layoffs are on the way.
What plants will be affected?
DDS division days are numbered. Upper management will be given opportunities within NOV. Middle management will be given opportunities within Rig and D&I. Whoever does not fit will be given layoff packages. Product lines that do not make money will be cut/sold or put on hold. It will be a complete reorganization to better fit current market conditions.