Varel International Inc

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Founded in 1947 by Dan Varel, Sr. as Varel Manufacturing the company has been supplying drill bits to the mining, industrial, and oil and gas markets for over 60 years. The firm was a family owned business until 1998 when it was purchased in a management buy-in led by Jim Nixon. Under Mr. Nixon's leadership the new Varel acquired Walker McDonald, a well known supplier of mining three cone bits. In addition the company embarked on the establishment of an oil and gas PDC business based on the acquisitions of both a small US PDC manufacturer, and the Crystal Profor company in France. These acquisitions allowed the company to not only aggressively enter the rapidly growing PDC market, but also to expand operations in the Eastern Hemisphere. A further acquisition was made of a significant drill bit sales and service organization in Canada, Pendemak Industries. In 2008, Varel acquired Downhole Products (DHP), a leader in high end centralizers and reamer shoes. This acquisition led to the formation of a new holding company, Varel International Energy Services, the parent company of both DHP and Varel International. Varel International has grown to become the largest supplier of mining and industrial drill bits, and the leading independent supplier of oil and gas drill bits, both roller cone and PDC world wide. Varel is headquartered in Carrollton, Texas and has manufacturing centers in Houston, Texas; Matamoros, Mexico, and Tarbes, France. The company distributes roller cone products globally from a recently established distribution center in Brownsville, Texas. The company operates its Eastern Hemisphere operations and engineering from a center in Pau, France and through regional offices in Dubai, and Kuala Lumpur. Additionally the company has primary regional mining bit offices in Booragoon, Western Australia, and Lima, Peru. In all Varel operates in over 60 countries around the globe and employs over 1000 experienced drill bit personnel. Varel International's manufacturing operations are certified by either DNV or AFNOR to ISO 9001 standards. In addition the company's roller cone products are API certified. Varel was recognized in 2008, 2009 and 2011 by the INC 5000 as one of the fastest growing private companies in the US. This annual list recognizes companies for their growth during the preceding three year period. As the company prepares for the future, we will continue to evolve and grow to meet customers' needs while maintaining our commitment to innovative product development and engineering.