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2014-03-05 16:38:00

VARCO CREATE DISTRIBUTOR

VARCO CREATE  DISTRIBUTOR

National-Oilwell Varco Inc., a leading provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services, formally announced the spin off of its DistributionNOW and Wilson Export brands into a new publicly-traded company to be called NOW Inc. on February 26, 2014 in a 10-12B filing with the U.S. Securities & Exchange Commission. 

With a network of over 300 locations and 5,000 employees worldwide, NOW Inc. will be one of the largest distributors to the oil and gas industry with a 150 year history. These products include maintenance, repair and operating supplies, pipe, values, fittings, flanges, line pipe, electrical, artificial lift solutions, mill tools, safety supplies and spare parts. The company will also offer warehouse management, vendor integration and various inventory management solutions to its customers. 

The company's total addressable market is estimated to be approximately $20 billion in North American and significantly larger globally. In FY 2013, the firm generated revenues of $2.86 billion in the U.S., $773 million in Canada, and $660 million throughout the rest of the world. These sales were primarily made to drilling contractors, well servicing companies, independent and national oil and gas companies, refineries, midstream operators, and other parties. 

Moving forward, NOW Inc. aims to extend its leadership position in the energy supply chain by building new locations and relationships with its large customer base. As energy operations continue to expand worldwide, the company further plans to expand into "last mile" markets that are remote relative to their existing locations, particularly in non-conventional plays like shale oil and gas. Management's focus on enhancing margins and productivity could also help improve the bottom-line. 

Investors may want to keep a close eye on the spin off given that NOW Inc. is well positioned to become an industry leader. Spin offs also tend to outperform the overall market during the long-term due to certain dynamics like more efficient capital allocation, early institutional selling, and more aligned management incentives to promote performance.

Tags: VARCO

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VARCO CREATE  DISTRIBUTOR
2018, November, 19, 11:20:00

U.S. SECURITIES OUTFLOW $29.1 BLN

U.S. DT - The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $29.1 billion. Of this, net foreign private inflows were $23.5 billion, and net foreign official outflows were $52.7 billion.

VARCO CREATE  DISTRIBUTOR
2018, November, 19, 11:15:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially.

VARCO CREATE  DISTRIBUTOR
2018, November, 19, 11:10:00

GREEN NUCLEAR ENERGY

WNN - "nuclear energy is a "mature, low greenhouse gas emission source of baseload generation that could make an increasing contribution to global development based on low-carbon energy supply".

VARCO CREATE  DISTRIBUTOR
2018, November, 19, 11:05:00

SAUDIS, PAKISTAN INVESTMENT: $6 BLN

ARAB NEWS - Saudi Arabia has shown investment interest in Pakistan’s largest coastal refinery, a multibillion-dollar project being set up at Khalifa Point, near Hub, Balochistan, officials have confirmed.

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