CALGARY, Canada – Logan International Inc. reports that Logan Oil Tools Inc., a wholly owned subsidiary, has purchased certain assets from Smith International Inc. The assets include inventory, and the rights to manufacture and sell HE fishing tools and certain intellectual property including the use of the trade names "Houston Engineers" and "HE."
The HE tools are highly specialized tools that are used primarily to free and remove downhole tools and equipment in connection with workover or intervention services.
Logan International President and CEO David MacNeill comments, "The HE fishing tools are well known by our customers and have a reputation for design excellence and superior performance. In addition, we feel that this will simplify our customers' ability to gain access to the HE products that may not have been available to them in the past. This acquisition not only expands our core offering of fishing tools but also further enhances our reputation for providing superior quality products."