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NOV history
NOV company history timeline
National Supply, owned by Armco since 1958, produced hydraulic, fluid, and plunger pumps, engines, and other oil drilling equipment.
1987: Armco and United States Steel form National Oilwell as a joint venture.
Armco and United States Steel sought buyers for National Oilwell, but rejected a bid from a private firm in Mexico in late 1992.
Under the leadership of Joel Staff as president and chief executive officer, appointed in July 1993, National Oilwell streamlined operations.
In early 1993 the company entered into a joint venture with Caterpillar, Inc. and Uralmashzavod, a privatized industrial and engineering group located in Russia.
National Oilwell sold its wellhead system business, its fluid control systems product line, and its hydraulic pumping business in 1994.
1995: An investor group purchases National Oilwell and takes the company public.
In April 1997 the company purchased the drilling businesses of Ross Hill Controls and Hill Graham Controls for $19 million.
A 19 percent decline in sales from distribution services in 1998 was offset by an increase in sales of major capital equipment, including rigs, mud pumps, cranes, and SCR equipment.
1999: The acquisition of Hitec ASA of Norway enhances National Oilwell's capacity to provide integrated control systems.
In August 2000 National Oilwell introduced a new customer service on the company web site. "Customer Connect" provided online access to customer purchasing data for analysis by date, project number, product category, company division, specific well, or other characteristics of buying activity.
In February 2001 Santa Fe International ordered two state-of-the-art jackup rigs.
As oil prices declined in the last half of 2001, and the company's debt increased, National Oilwell changed from its strategy of growth through acquisition.
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Zippia gives an in-depth look into the details of NOV, including salaries, political affiliations, employee data, and more, in order to inform job seekers about NOV. The employee data is based on information from people who have self-reported their past or current employments at NOV. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by NOV. The data presented on this page does not represent the view of NOV and its employees or that of Zippia.
NOV may also be known as or be related to NOV, NOV Inc., National Oilwell Varco, National Oilwell Varco LP and National Oilwell Varco, Inc.