November 4, 2008
Petroleum Elastomers Joins Simrit Oil and Gas
PLYMOUTH, Mich., Nov. 4 /PRNewswire/ -- Simrit Oil & Gas, LLC (Simrit), a wholly-owned subsidiary of Freudenberg-NOK General Partnership (Freudenberg-NOK), announced the acquisition of the assets of Petroleum Elastomers of Houston, a manufacturer of specialized custom sealing components for the oil and gas industry. Terms of the agreement were not disclosed.
Petroleum Elastomers molds a wide range of elastomeric products but is widely known for its blow out preventer (BOP) ram packers and spherical packing elements. The company is particularly well regarded in the oil patch for its BOP products operating in extreme conditions, such as snubbing and H2S service, and offers replacement seals for most popular BOPs. Other products include strippers, bonnet seals, top seals and seal kits for the oil and gas industry.
"The addition of Petroleum Elastomers to Simrit and the Freudenberg-NOK family of companies exemplifies our commitment to grow in the oil and gas industry," said Brian Jones, vice president -- Oil and Gas of Freudenberg-NOK's Simrit Division. "The company's products greatly expand our coverage in the oilwell pressure control segment and its workforce brings years of experience to the Oil and Gas team. Likewise, current Petroleum Elastomers customers will now have access to the full array of products we produce in our U.S., Canada, Norway and Scotland locations."
All key personnel will remain with Petroleum Elastomers, including Mike Ward, who becomes technology manager and Mike Viator, who will become lead center manager.
"We look forward to the growth opportunities that result from being associated with a global organization," said Ward. "The product synergies, coupled with the capabilities of Simrit's 55,000 sq. ft. technology center in Plymouth, Mich., open many areas of the market we have not yet explored."
Simrit is based at Freudenberg-NOK's headquarters in Plymouth, Mich. Freudenberg-NOK is part of the Freudenberg and NOK Group Companies, which have total annual sales of more than $12 billion. The Simrit Division offers an extensive portfolio of precision-manufactured products for the semiconductor, aerospace, appliance, diesel engine, marine, off-highway equipment, oil and gas, and recreational vehicle markets. For more information, please visit the Simrit Web site at http://www.simrit.com/ .
Web site: http://www.simrit.com/