Business
McCoy Global Announces Closing of DrawWorks LP Acquisition
McCoy Global Announces Closing of DrawWorks LP Acquisition Canada NewsWire EDMON...
About this update from Mccoy Global Inc.
[{"type":"text","content":"\n\n\n\nMcCoy Global Announces Closing of DrawWorks LP Acquisition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nEDMONTON, Oct. 2, 2019\n\n\n\nPurchase further progresses McCoy's position as a technology leader by accelerating the Corporation's key strategic technology initiatives\n EDMONTON, Oct. 2, 2019 /CNW/ - McCoy Global Inc. (\"McCoy\", \"McCoy Global\" or \"the Corporation\") (TSX:MCB) today announced it has acquired all of the outstanding units of DrawWorks LP (\"DrawWorks\") as the Corporation continues to advance its strategic technology initiatives. \n\"McCoy's acquisition of DrawWorks advances our Digital Technology Roadmap initiative and enables us to deliver enhanced solutions to our customers. We plan to integrate our data-driven technology platform with DrawWorks' equipment offerings and market these to customers on a global basis. Customers are looking to us to help solve their challenges while performing tubular running services, and we continue to develop solutions to meet those needs,\" said Jim Rakievich, President and CEO of McCoy. \nDrawWorks designs, tests and sells tubular running technologies including a patented line of mud handling equipment which includes the Autofill™ Casing Equipment, AutoValve™, MudSaver valves and Single Joint Compensator (SJC™) System. DrawWorks' most recent development – the DWCRT™ – is a modular mechanically operated casing running tool. \nBing Deng, McCoy's Vice President, Sales & Marketing, added, \"DrawWorks' team of skilled engineers has developed innovative equipment offerings which are complementary to McCoy. The newly developed DWCRT™ is ready to solve customer challenges. We at McCoy will leverage our existing global footprint to enable DrawWorks' products to reach new customers and markets under our globally recognized and respected McCoy brand. We also anticipate unlocking DrawWorks' depth of design expertise on new products and technical packages to further diversify our service offerings in future...