2010-08-31-2010-08-19-2010-08-19

Transaction Type
Sellers
Buyers
Announce Date
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Estimated Price
0MM
Description

Acquired Lloydminster, Alberta-based oilfield equipment and service supplier.

Baker Hughes Inc., Houston, (NYSE: BHI) has acquired Lloydminster, Alberta-based oilfield equipment and service supplier Tanroc for an undisclosed price.

Tanroc primarily supplies progressing cavity pumping (PCP) systems and surface production equipment, including variable frequency drives for downhole pumping systems and wellhead drives.

With facilities in Lloydminster, Bonnyville and Wabasca, Alberta, Tanroc provides service, repair and distribution for PCP systems and has been the Canadian distributor for Baker Hughes' Lifteq systems prior to the deal. Tanroc' assets will complement Baker Hughes' Lifteq line of PCP systems in the Canadian market.

Baker Hughes' president in Canada Mike Davis says, "Tanroc's staff brings to Baker Hughes not only extremely valuable expertise in PCP equipment, but also a proven business model. Both will be important keys to better serving our PCP customers in Canada, as well as in other markets."