Varco Acquires Smith Fiberglass
December 18, 2000
Varco International Inc. has acquired the assets of Smith Fiberglass Products, a division of A. O. Smith Corp. Smith Fiberglass Products produces premium composite pipe and fittings for application in oil and gas production, retail fuel distribution and chemical processing markets. Composite pipe is used to handle highly corrosive fluids for which conventional steel pipe is often unsuitable. Terms of the transaction, which was structured as an asset purchase, were not disclosed. Smith Fiberglass Products is headquartered in Little Rock, Ark., with plants in Little Rock, Wichita, Kan. and Harbin, China. The business employs about 400 worldwide.
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