News | June 21, 2002

IDM Equipment, Ltd. Acquires Diversified Electrical Systems

Houston, June 17, 2002 – IDM Equipment, Ltd. has announce that it has acquired 100% of the assets of Diversified Electrical Systems, Inc. (DES), a manufacturer of SCR controls for the oil drilling industry.
As a result of this acquisition, DES's operations will be relocated to a new 12,000-square foot facility adjacent to IDM's Houston rig manufacturing facility, and will be integrated into IDM's Control Systems Division.
IDM Equipment's Control Systems Division manufactures SCR controls, AC Variable Frequency Drives, PLC systems, and complete integrated drilling rig power, control and monitoring systems. The acquisition of DES further strengthens IDM's ability to provide its clients with proven SCR technology at competitive prices.
IDM Equipment, Ltd. is a full service manufacturer of new land drilling systems and remanufactured land rig packages. The company's extensive capabilities include rigs, drilling equipment, electric power systems, SCR or AC variable speed systems, and advanced instrumentation. The company also supplies associated drilling components, including drawworks, mud pumps, auxiliary brakes, fluid end modules, mud pumps parts, hook blocks, mud systems, rotary swivels, rotary tables and SCR houses.
For more information, contact Norm Myers, IDM-Equipment, Ltd., 11616 Galayda, Houston, TX 77086. Tel: (281) 447-2731, fax: (281) 447-4403. Email: n.myers@idm-equip.com. Web Site: http://www.idm-equip.com.
CONTACTS:
Norm Myers: Houston (281) 447-2731
Liz Stansfeld: Houston (713) 266.7121