American Well Control manufactures 4″, 5″ and 7″, 10,000 psi to 20,000 psi Torque Master and Hydro Master valves. The company also provides its customers with service, parts and repairs of its manufactured valves.
Allis-Chalmers acquired American Well Control for total consideration of approximately $17.2m in cash and one million shares of Allis-Chalmers common stock.
Micki Hidayatallah, chairman and CEO of Allis-Chalmers, said: “American Well Control has built a reputation for a quality product with superior service to its customers.
“With an existing strong position for the frac valve product in the Haynesville Shale, American Well Control intends to increase its presence in the Marcellus, Eagle Ford and Bakken Shale markets by establishing service and repair facilities side by side with Allis-Chalmers’ existing locations. The acquisition of American Well Control increases Allis-Chalmers’ presence in the active, onshore, non-conventional gas markets.”
