Houston, Texas-based National Oilwell Varco, Inc., a designer and manufacturer of components used in oil and gas drilling and production operations, announced Wednesday the closing of its previously announced acquisition of Denmark-based NKT Flexibles I/S, a designer, manufacturer of flexible pipe products and systems for the offshore oil and gas industry.
Pete Miller, Chairman, President and CEO of National Oilwell Varco, stated "The integration of NKT's highly technical design capabilities and NOV's Rig Technology will be a compelling combination in the offshore production market. NKT will notably escalate our position in Floating Production, Storage and Offloading vessel market."