Smith International buys majority share of United Engineering Services

Smith International Inc. bought a majority interest in United Engineering Services LLC, which owns a majority share in Cameron Services Middle East LLC.

Oct. 17, 2001

By the OGJ Online Staff

HOUSTON, Oct. 15 -- Smith International Inc., Houston, bought a majority interest in United Engineering Services LLC.

UES, a company incorporated in Oman, also owns a majority interest in Cameron Services Middle East LLC.

Smith bought the majority interest in UES, which generated revenues of $51 million for the 12 months ending June 30, from a holding company owned by the Cupola Group.

UES is primarily engaged in engineering and manufacturing services to the oil, gas, and water industries in Oman. UES also offers equipment sales and after-market support services, equipment refurbishing and repairs, and rental of specialty drilling and fishing tools.

CSME, a joint venture with Cooper Cameron, provides refurbishment, sales, and some local manufacturing of blowout preventers, manifolds, valves, wellhead systems, and related equipment in Oman.

Smith International's Smith Services Red Baron Group has a long relationship with UES via a technical services agreement in Oman.