Smith International South America Inc history

1929: Herman Smith decides to retire and sells his business to Globe Oil Tools.

The H.C. Smith Oil Tool Company corporate title was retained until 1959, when the company went public and changed its name to Smith Tool Co.

1960: To facilitate expansion, a parent company called Smith Industries International, Inc. is created.

The judgment by the court marked the culmination of a lawsuit originally filed by Smith International against Hughes Tool in 1974, a lawsuit Smith International would later regret having filed.

1985: Smith is forced to withdraw its bid for Gearhart, having spent $165 million trying to buy it.

Smith International was a shadow of its former self, but what remained was lean and, despite the profit loss recorded in 1987, capable of generating positive gains for the company.

Net productivity per employee during 1988 stood at $126,000, an all-time high, fueling hopes that the company had begun to wrest free from the debilitating first half of the decade.

Originally published in 1996, the newest edition of Talons of the Eagle is far from flawless; nonetheless, its exposition on the history of inter-American affairs is both inclusive and of great merit.

But the oil industry went into another cyclical downturn, leading to a net loss of $16.1 million in the final quarter of the year and full-year earnings of just $34.1 million, down from the 1997 total of $102.4 million.

Then in May 1998 Safeguard Disposal Systems, Inc., of Lafayette, Louisiana, was bought for $42.7 million in stock and cash.

Revenues for 1999 fell about 15 percent, to $1.81 billion, but profits rebounded to $56.7 million.

The oilfield and industrial screen operations of Madison Filter Belgium S.A. were acquired in October 2001 for $93.5 million.