Houston and London, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Varel International Energy Services (Varel), a long-standing provider of drilling and downhole solutions, today announced its redefining vision for business growth supported by a fresh, new brand enabling a strong narrative around Varel’s people, approach and customer experience.

The enterprise announces Varel Energy Solutions (VES) as the new company name and image, effective immediately. The VES strategy is to be a leading value creator in the well construction energy sector. VES intends to strengthen its current solution offerings through strategic acquisitions and organic investment in highly adaptive, low-cost manufacturing.

“Despite the turbulent times around the energy sector and global economy, we have chosen to apply the last six months towards redefining our future through a new lens of generating value and creating impact,” said Derek Nixon, CEO. “Where our traditional customer activity is muted in the short term, there are significant opportunities for VES to grow, capitalizing on our core strengths of economical product innovation and precision contract manufacturing. There is no better time to rebrand our company while creating a renewed commitment for our employees and customers.”

“This is a major reset for the enterprise,” said Jayme Sperring, vice president of marketing and business development. “With over 70 years of heritage, it is still an untold story. The capabilities within this organization are profound, from the highly reliable products to the undeniable passion for winning throughout this team-driven culture. More than a new name and image, Varel Energy Solutions is well positioned to deliver higher value to our customers and stakeholders.”

For more information about Varel Energy Solutions, please visit the new website at varel.com.

Founded in 1947, Varel Energy Solutions is one of the world’s largest independent manufacturer and suppliers of downhole drilling and completions products to the energy sector. Headquartered in Houston, TX, VES services oil & gas, renewal energy, and industrial markets with its comprehensive suite of roller cone and fixed cutter drill bits as well as a complete portfolio of primary cementing equipment. The company employs more than 1,000 people and has manufacturing facilities in Matamoros, Mexico, Aberdeen, Scotland, Ibos, France, Dammam, Saudi Arabia, Kurgan, Russia, Houston, TX (starting 2021) as well as sales offices throughout the world. VES’s proprietary design capabilities, efficient manufacturing, and global sales force uniquely position the company to provide high-quality downhole solutions delivering reliable performance and a superior customer experience. For more information, visit www.varel.com.

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