Drilling solutions for oil and gas
Sandvik has acquired Varel International Energy Services Inc., a global supplier of drill bits and downhole products for well construction and well completion to the oil and gas industry, as well as to some mining and construction companies.
Varel is headquartered in Texas, USA, and has around 1,300 employees. It has manufacturing sites in the USA, Mexico, Scotland, France and Russia. Varel will form a new product area within the Sandvik Venture business area, providing a platform to enable Sandvik to enter into drilling solutions in the oil and gas sector.